Most entrepreneurs leave a mountain of money on the table…
…profits that could have easily been earned with minimal additional effort.
That’s because most entrepreneurs focus solely on the main profit stream they originally set up instead of expanding their thinking to encompass a wider spectrum of potential profits from other streams.
Note that I am not saying multiple streams of “income” which suggests setting up and managing various different businesses to drive income .
Instead I am referring to multiple streams of “profit” suggesting that you look for other areas within your same business model which will render additional profits within the same basic structure.
The easiest way to open up possibilities is to expand your definition of your business. For instance, let suppose that you are defining your business as a wholesaler. You have limited your profits to just that one exit strategy. For more on business management, check out this pay stub software review.
Expand your focus to include real estate investor, and now you have opened up several different exit strategies that are all supported off the work that you already do marketing for homes as a wholesaler.
Let’s take that a step further. Suppose instead you defined yourself as a real estate “supplier”. Not only do you supply great deals you find to your investor buyers list, but also deals that others find. Another profit stream.
As a “supplier” you look to provide all of the needs of your investor buyer customers. So you can now sell them information; hosting; comparable sales data, etc. all as an affiliate of those products.
In other words, all you have to do is promote those goods and services using to the list you already have using the marketing that is provided to you. And you earn half the revenue in most instances.
Most of the training programs and the products and services offered to investors are available to promote as an affiliate. The product owner creates all of the marketing; provides the sales site; collects the money; fulfills the order; and handles customer service. All you do is send out the emails provided and receive monthly commission checks.
Notice that all we have discussed here is still within the same business structure with the same customers. You are not creating new businesses, but rather expanding the core business you already have to generate additional profits.
Let’s expand your thinking further. Instead of classifying your list of buyers as “investor buyers”, think of them as business opportunity seekers or entrepreneurs that are interested in any business opportunity.
Many on your list will buy your deals or your information and products and services. But you will still have a vast majority for whom nothing was interesting.
Instead of only providing them with real estate opportunities…provide them with other business opportunities.
For years I had a block in my mind against any type of network marketing opportunity because I saw my list as only real estate investors. When I finally saw them as entrepreneurs looking for great opportunities, then network marketing suddenly fit within the structure.
I discovered that many who had never purchased anything under the real estate umbrella, were now interested in the new business opportunity resulting in increased sales and profits from the same list.
And it works the other way as well. As you build your list of opportunity seekers for network marketing, many will be interested in learning about real estate and your real estate profits expand.
Because you build new income streams within the same core business model, revenues increase, but costs do not increase at the same level, so bottom line profits are greater not just in dollars, but also as a percentage of revenue.
By building an integrated business with multiple profit streams you will not only massively increase your overall cash flow, you also build a stronger company designed for longevity. This is the model that I use and the one that I teach each of my private mentoring students because it is the one that will yield the best results.
Bottom line…expand your definition of your business to expand your bottom line.
Expect abundance,
Lou Castillo
