How To Generate Additional Revenues From Your Own Business Assets
Written by Davide Scalia on Jun. 06th 2019
Companies often miss out on tremendous opportunities because they don’t fully understand their business assets or optimize them so as to derive benefits and increase revenue streams. 

Generally, businesses do have plenty of assets, which have huge potential. If they are utilized properly, they can certainly bring in additional revenues. 

Doing so may also involve targeting a different set of audience, which increases brand visibility and awareness. 

So how to increase revenue streams? As a starting step, analyze your business assets thoroughly and see how you can use them to improve your current operations. Secondly, figure out how you can use the assets to create additional revenue streams, and thirdly, try to understand if they can help you increase your visibility in any way. 

Every company has three main types of business assets which must be understood, optimized and then utilized to derive maximum benefits, these are :

- Physical assets

- Soft assets

- People 


Physical Assets 

Physical assets include machinery, equipment, tools, and land. 

If these aren’t in use or not used regularly, you can either sell them out or rent them. Begin by finding companies that offer the same product lines and service portfolios as you do, and see if they can utilize your physical assets in some way. 

This should get you some secondary business and additional opportunities to increase revenue streams.  
Soft Assets

Soft assets are the technical tools and applications that you use for your business processes, operations, and management.

Over the years, you would have optimized these tools and tailored them according to your business needs. These same tools can also be used by other startups who are too new in the industry and have little or no idea about managing various business aspects.

You can offer consultation services to these companies, train them, or even sell software if you have developed it in-house.

In the process, you may also learn something new from these entrepreneurs and use it for your business advantage.

People

Employees are a company's greatest asset. 
Identify their technical and soft skills, and see who can play a key role in expanding your business forward.

Train your people, invest in them, engage them, and retain the most talented.

Appreciate them, praise them and promote them to key roles in your organization structure like sales managers, marketing managers and eventually, sales VPs and chief marketing officers.

You must invest time to understand all the assets that you do have, especially people because employees are the greatest asset in your hand.

Analyze them deeply, and you’ll be able to figure out how you can generate revenues from them. Indeed, this does involve coming up with new ideas, launching new marketing campaigns, and putting in resources.

But in the end, you’re also growing your business, even if it’s in a different direction. After all, who knows the idea might be big enough to result in a company spin-off one day.

Thank you for reading, I would appreciate hearing your thought on this.

Davide Scalia



CEO & Founder of Namaka Consulting, with over 15 years of experience in the Marine Industry and over 10 years experience on Strategic Business Development, helping over 500 businesses to clarify what to do next, increasing sales, giving new ideas for  exponential Business Growth
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