Get Out Of The Rut

It’s easy to fall into a routine.

Over time, what you do can become who you think you are.

Being stuck in a rut isn’t necessarily a bad thing, in fact it often means that you’re on a well-worn path and you’re heading places. But it just might be the same path that everyone else is taking as well, and you could be missing out on some fantastic new trails.

The truth is that there are probably several hidden ways that you can create a new revenue stream in your business without hardly changing anything.

You can take any notable expenses and leverage those for other people.

On your Profit and Loss statement, is there a cost or category in “Expenses” that can also be “Income”? Or, if you are looking at your Balance Sheet, is there something that is under “Liabilities” that could really become “Assets”?

For a small business, the place to start is to think about the things that you do for free.

If you offer a consultation or free quote, consider charging something for it. That accomplishes several goals at once: you capture revenue, establish value right away, and weed out the “tire kicker” shoppers who won’t end up being customers anyhow (or at least won’t become good customers).

You can also look at every single expense in your business as a possible asset.

Your office or warehouse space, your fleet, your team, your equipment, your inventory, and even your supplies can be leveraged to capture surprise revenue.

You can turn your overhead into a profit center.

This is from Trail 3 of Profit Hiker: 11 Trails to gain lasting elevation in your business. Find the book right here and the program over there.