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Business Ideas For More Income

Increase Bottom LineAre you looking for business improvement ideas to generate more income from your home business? Let’s face it, you’re time is valuable and you want to use it effectively to enjoy a balanced lifestyle.

One option is to increase the fees that you charge for services. Another option is to increase your client base.

Neither of these may be desirable, especially if you have reached your workload capacity.

Raising fees could upset loyal clients.  And taking on more clients could mean not having enough time for other activities.

Whether you offer website design and development, web graphics, writing, social media marketing, or virtual assistant services, you must maintain your ability to keep existing clients happy.

Here are 7 ways to improve the bottom line of your business while maintaining existing service levels to loyal clients.

7 Ways To Improve Your Bottom Line

  1. Assuming you have a business website that receives a good amount of traffic, consider selling ad space.
  2. Vet the ads to ensure they are relevant to your visitors.
  3. Provide a newsletter.   Include affiliate links in your newsletter for relevant products, or sell ad space in your newsletter.
  4. Do you offer more than one service?  How about bundling them into a package deal? Of course, make sure the package will result in savings for your clients and more immediate cash for your business.
  5. Create a paid membership site that aligns with your primary business and charge a monthly fee. This has the potential for an ongoing income stream. The rewards could be well worth the setup, management and outsourcing costs.
  6. Are you creating your own products? This takes time and effort upfront, what doesn’t?  However, it enables you to launch an affiliate program and let other people promote those products for you.  J. Paul Getty, one of the richest men in his time, said: “I’d rather have 1{b836676211964b66ddb1a94012779accd2cb69eec60a63bc16d10fd7c8344bc8} of the effort of 100 men than 100{b836676211964b66ddb1a94012779accd2cb69eec60a63bc16d10fd7c8344bc8} of my own effort.
  7. To help with support, create a private Facebook Group or Support Forum to enable your clients to get help from their peers.  Members can help each other with common questions, saving you time in the long haul.

I hope the above suggestions will start you thinking about ways to increase your bottom line without the necessity of increasing the number of clients receiving your services.

Extra work is involved initially until you set up the new income stream, so you may need to outsource tasks to enable you to keep existing clients happy.

Do market research. Calculate your time and outsourcing costs. Make sure that your strategy will not only offset your costs but also has the potential to increase your bottom line going forward.

 

It’s tough to build an online business. Don’t struggle alone!

Check out this Review for a better way. It’s my top recommendation. We can help make building your online business in any niche a lot easier.

 

Comments 6

  • Hi Jude, thanks for all the useful advice, I’m in the process of creating a product, I just wish I could take a couple of weeks with no family distractions to complete it.

    • Hey Alison, nice to see you. Creating your own product can indeed take time and distractions don’t help, but family distractions can be both a blessing and a curse…lol. You will get there and it will be worth it. Let me know when you are launching your product, and my best wishes for your success with it.

      Thanks for stopping by – I appreciate your feedback. ~Jude

  • Hi Jude,

    This article is very pertinent to my current situation – it is very interesting to find your blog today and having you practically describe my exact position. I need to make more money, but am reticent to charge my clients more for fear of driving them away, thus causing the opposite of what I need to achieve.

    Another option to the ones you have quoted above would perhaps be to create your own product and market it on the internet, or to sell other people’s products online and earn a commission.

    I like the tone of your writing and can tell that you have put a lot of thought and effort into what you write, which is pleasing to see. Many people realize that they need to add articles to their blog, but just write complete rubbish and place it there, just to have something there. It would actually be better to not put anything there than the junk that one sees on the net so often.

    Cheers,

    Barry Friedmann

    • Barry, finding a way to increase your income in a home-based service can be challenging. Certainly creating your own product and marketing it on the net is an option. It boils down to how much time it takes to create your product, then launch and market it. How profitable it will be also depends on the shelf-life of the product.

      Thanks so much for stopping by and leaving your feedback – I appreciate it. Wishing you every success in finding the right path for you.

  • Great content.
    Keep sharing with us.

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