How does your organization make money, what are your customers willing to pay and where might additional revenue be trapped?
As the leader of your organization, it's important to take a hard look at revenue in relation to your customer segments and the value delivered. Once you analyze this, you'll be able to determine if you can generate additional revenue streams from one or more of your customer segments - and the right cost structure for your offerings.
After all, it's easier to retain and grow existing customers than it is to find new ones - which makes the work you'll put into evaluating various revenue streams and cost structures all the more worth the effort.
YOUR ACTION STEPS
Review the various revenue streams you currently have, the value your organization delivers for each and also how your customers pay you. Ask yourself:
These questions will help you see how each revenue stream contributes to your organization's overall financial picture, as well as where additional revenue might be and how to set it free.