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With tons of business opportunities that abound, you must be left with your mouth dry trying to think of a great business model. Well, the fact of the matteris that no matter which business model you choose, there are certain things that will be standard – like sales, systems, marketing, cash flows and the like.
However, I seem to have been drawn to one business model in particular: Small business consulting since there are various ways you can tap into recurring streams of income while doing business. Here’s how:
- Direct charges for your Services: Needless to say, you could charge for your result inducing ideas and effective solutions which would help your clients improve their profits, save their time, quicken their processes, make customer relationships better or anything else that you might do to provide value for your customer.
- Affiliate sales: While suggesting solutions, you might want to suggest products and services that might be necessary for implementing certain ideas. Why not sign-up with these merchants and rake in some affiliate commissions. Some of the common products and services might be web hosting, web services, file hosting, online back-up, any other kinds of software and much more.
- Retainer for special services: Let’s say your small business clients need someone to manage their customer services, run and maintain their corporate blog or some other requirement and you find that the best person for the job is you, why not take that extra work load up and charge them to your client? You might even want to find someone else to do it on your behalf and pay them for it.
- Recurring commissions from long-term vendors: Some products and services as mentioned above might be annual subscription type which might bring in regular income for you each month for effort taken just once. Once you sell enough of these type of products and services, you are looking at a recurring stream of income for a long time to come.
