There are tons of ways for small businesses to bring in revenue. And during challenging economic times, it may be useful to diversify your revenue streams. Here are some tips from members of the online small business community to help you bring in more income.
Consider These New Ways to Make Money on YouTube
YouTube has long been a popular platform where online creators can earn an income. Previously, users mainly had to do this through an ad sharing program. But there are now new options to choose from. Learn more in this Search Engine Journal post by Matt Southern.
Gain the Right Investing Knowledge on Social Media
Social media gives people access to communities that share knowledge about a huge array of topics — including investing. The recent GameStop scandal showed some of the negatives of learning about trading on social media. But there may be some positives as well. Christian Zilles discusses in this Social Media HQ post.
Learn These Podcasting Facts and Trends
Podcasting offers another way for small businesses to increase their income through ads or sponsored content. But before you jump into podcasting, you need to learn the landscape of the industry. Read this Funnel Overload post by Matt Moran to gain more insights on the subject. Then see what the BizSugar community has to say.
Get Ready to File Your Taxes in 2021
If your business earned any income in 2020, you need to file taxes with the IRS. Small business tax code can be complicated, but Nellie Akalp of CorpNet can help. She offers a helpful guide for small business owners in this post.
Use These Tools to Navigate the Franchise Buying Process
Before you can start earning money with a franchise business, you need to buy into one. This process can seem complicated and time consuming at first. But there are tools to help. Joel Libava goes over a few of them in this post on The Franchise King blog.
Extend Your Runway with These Non-Traditional Startup Funding Ideas
Getting outside funding for your startup can help you navigate during the early days when you don’t earn much income. But not all small businesses have access to traditional bank funding. In this Acuity post, Matthey May dives into some less traditional options.
Manage Finances with These Innovative Tech Solutions
Once you start earning money with your small business, you need processes for managing it. Luckily, there are plenty of tech tools that can help. Ivan Widjaya of SMB CEO lists several of them in this post.
Save Money Running a Small Business at Home
More and more businesses are operating at home these days. While this may present challenges, it also offers money saving opportunities. This could lead to increased profit margins for many companies. Jamie T. Wiseman discusses further in this Miss Millennia Magazine post.
Create and Present an Annual Marketing Plan
The way you market your small business can have a major impact on how much money you earn. To maximize these efforts, you need a marketing plan. And it’s likely to change by the year. In this Aha!NOW post, German Viera offers tips for creating and presenting one. And BizSugar members shared thoughts here.
Drive Value from Small Data
Big data gets a lot of attention. But small businesses can still get value from smaller data sources. In this Marketing Land post, William Terdoslavich discusses the idea of small data. And he offers tips for making the most of it in a small business.
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