The Blog

THECUBE is entering a new phase, one that hopefully will lead to a coworking space where ideas, theories, and concepts are born. 

As we have mentioned before, we are developing a process behind this, called Idea Engineering, within this umbrella there are various topics, such as creating revenue streams.

 
If Idea Engineering is the vehicle then the petrol is creativity, we are adamant to the point of being evangelical about recognising creativity as a process, not an industry or a personality.

Back to the original point, which is Revenue Streams, HEADCUBER Bethany Betzler put together a presentation on the subject and below are the points. 

1.Observe; what are your client’s needs?  What changes is your industry facing? What is happening in the economy? How can you help support your industry? Can your company sustain another revenue stream?

2.Apply action; create solutions for the problems you have observed and ensure you are creating relevant revenue streams.

3.Keep overheads low; make sure the new revenue stream really adds revenue not just overheads. Also make sure it adds generously so you warrant the time and expense.
4.Supporting your industry; if you industry is growing or changing, could you add a service to support this? For instance, an editor can add value to digital videos by finding a unique way to collate content.

5.Residual income; can you write an e-book? publish a newsletter? Create a strong blog that can sustain advertising. Remember sell your work not your time.

6. Become  a voice in your industry; By becoming an expert in your field you can use information to pull new clients, thus opening your market and generating new sources of income.

7.The old isolation is the new collaboration; find ways to see your competitors as collaborators to reach new markets faster.

8.Be prepared to react to what is next; this goes back to observation, what is the next evolution in your industry and how can your company contribute to it.

9.Make sure the new revenue streams compliment your company, brand, and vision.

10.Focus on the post profitable part of your business and don’t loose site of your core market.

For more information, please contact Bethany or Araceli at THECUBE 0207 377 9279 or email info@thecubelondon.com