How to identify new revenue streams and successful ventures for your business
How to identify new revenue streams and successful ventures for your business
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Entertainment, travel, and hospitality industries, among others, took a hit as businesses and cities shut down across the nation.
Finance experts and business owners shared tips with Business Insider on diversifying sources of revenue to make it through a tough economic downturn.
Start by evaluating how your customers are reacting to the crisis, they said. From there, determine which costs are worth keeping or cutting as needs change.
Stay close to what you're familiar with. If you try to add too many new revenue streams, you'll end up "not doing any one thing particularly well."
Leverage technology and a diverse workforce to stay agile, adaptable, and scalable even when