Let's Make Some Money

7/6/10

Let's Make Some Money

Real world businesses can and should look for new and interesting business models; in particular they should begin looking at the internet model of indirect payment. The majority of web content can be enjoyed for "free", free to the consumer anyway. More specifically the cost of the content is the viewing of advertisements. Advertisements range from innocuous to obnoxious and can appear any form; video, still picture and audio. I don't see a reason many forms of business can't take on a similar model. I don't necessarily mean that goods and services all have to be supported by direct advertising, but could be supported by other forms of indirect payment. Meaning the customer receiving the good or service is not the one paying the bill.

For instance, a photography business may be able to find a revenue stream from a popular clothing merchandiser by receiving a certain sum of money for every customer that wore this retailers clothing in their pictures. This amount of money may or may not pay for all aspects of a photo shoot, but could greatly subsidize the operation allowing the photographer to decrease prices and increase volume of customers.

Other indirect payment forms include providing goods and services as perks for a corporation or business. This already exists to a certain degree with catering and other food products. A company could hire a photographer to take family pictures or a physician to perform regular checkups on its employees. Almost any personal service available could utilize this form of indirect payment, although it may take a bit of creative marketing to convince a business it's worth their money. Offering your services at a discount for large bulk events is also an excellent form of advertising for the servicer, nothing like a large group of people enjoying whatever it is you provide to get some sales.

For those individuals who's services may get a lot of eyes but aren't conducive to direct payment, advertising might be a great way to go. Street jugglers and that weird statue guy could have a business logo incorporated into their acts or just have a sign advertising a local eatery that they carry everywhere they go. Where there are people there’s money to be made.

The point isn't that I can tell you how to make money; it's that you can be more creative in the way you make money. If you can find a way to make your service cheaper and still meet the bottom line you should. Get on the internet, talk to local stores, or just sit down and think of ways that your business could utilize alternate revenue streams. You never know, you could end making a lot of money or at least quitting that part time job at Chotchkies.