Have you stopped to think about the possible sources of income for your business? Today I want us to approach this idea from the Canvas Model. A tool that will allow you to carry out the strategic management of your business through different key points. But this is not the time to talk about this, but about the sources of income themselves. Be clear that the sources of income will determine the economic and financial stability of your company . Therefore, you must meticulously study which products or services. Your customers would pay for, across different segments and targets. If you are able to be clear about this and diversify the different options of your business , you will have a better chance of being successful. Let’s now look at the different types that exist, which may have different pricing methods as I will show you later.
Types of income streams in Canvas
The sources of income of a company are determined according to the characteristics of the company, in addition to the predisposition of customers to pay according to the value they perceive. We must differentiate between two Oman Phone Number List different models: one-time income and recurring income. The distinction between the two is as simple as whether or not a payment or transaction is repeated periodically. Now, pay attention to these sources of income. Usage fee Your customer will only pay for the use of your product or service at the time they have a need. This problem is usually temporary, so it will come to you at a specific time but it will not be something that continues over time. It usually occurs in the provision of services, such as going to a restaurant or taking an online course.
How to choose the sources of income for your company
When choosing the sources of income for your business, the ideal is that you diversify between different models . This will allow you to expand your value proposition and make the most of it, preventing a single target from Germany Phone Number List burdening your finances. This, in the end, will bring you greater economic stability. For example, if your business’s main source of income is the sale of assets and goods. Try to also launch other items that are related to the main product. If you sell mobile phones, one option is to offer maintenance and. Repair services, or sale of accessories such as cases, headphones, etc. Think of your business as a table. If you have only one leg, it will hardly stay upright, and if it breaks you won’t be able to keep it up. If you have two very large legs, it is also likely that everything will fall apart if one of the two fails.
