An income stream is a regular supply of money that comes from a business or investment. However, given the current economic situation globally, this income will not necessarily be regular. Many businesses are struggling. Research suggests that the number of businesses going out of business will double in 2023.
This is a worrying piece of information. It is therefore important that businesses think creatively to create a new income stream or increase an existing income stream.
In the natural life cycle of a business, sometimes they will do well, sometimes they won’t. There are always those businesses that seem to continue to do well, but they are few and far between. Keeping a business afloat and doing well requires hard work.
Is now the time to expand your business with a new income stream?
Disadvantages of Expanding A Business.
There are disadvantages to expanding a business, particularly if –
- There has been insufficient planning and preparation.
- It leads to a loss of control.
- Quality and productivity is compromised
- There is a cash shortage.
- There is a large capital investment required to expand the business.
Advantages of Expanding a Business
Expansion is beneficial in many ways –
- It reduces external risks. For example, the risks from competitors and the market.
- It helps to attract new customers as you offer more products and services. A larger and more diverse your customer base is better than relying on one type of customer.
- By expanding, you also increase your market influence. The more products you sell, the more important you potentially are in your niche area.
- By offering new products and services, it also means that you are diversifying the businesses too, which again, provides more protection and more income streams.
Are You Thinking of Expanding Your Business With A New Income Stream?
If you are thinking of expanding your business with a new income stream, you will very probably be interested in working with us.
We are ACS Distance Education. We are experts in online and distance learning. We have not just popped up out of nowhere, but have been providing high quality and current online and distance learning since 1979.
We currently have over 700 courses and 150 plus eBooks available and are developing more all of the time.
We are prompt, responding quickly to the needs of the education market and the people who resell our courses.
We offer the opportunity for businesses to rebrand and resell our white label products, expanding the goods and services that they offer to their customers.
But is this the right time to do this?
As we said, expanding your business has advantages and disadvantages, so is working with us the right thing to do for you now?
Let’s look.
- A disadvantage can be caused if there is a lack of sufficient planning and preparation. It can be difficult to expand into a new income stream if there hasn’t been sufficient planning and preparation. But we can help. We obviously can’t do all the planning and preparation for you and your business, but we have helped many organisations to start selling our courses, so we know what we are doing and we can help you to get started. We are experts in online education and our reseller manager, Kate Gibson, has been doing this for years and really knows her stuff. She knows just how to get you started and what you need. We offer an individualised service to get you going. It is not one-size-fits-all with us.
- Another disadvantage of expanding your business can be the loss of control. Not in our case, it is still your businesses. We are here to help you to expand your business and develop new income streams. We are not taking control, you are simply working alongside us.
- Quality and productivity can be comprised. Definitely not if you work with us. We produce high quality courses and we do that regularly. We have a team of expert writers and educators researching and studying to find out just what courses are required today, and working hard to provide high quality courses that students want. Quality and productivity is definitely not comprised with us.
- Another disadvantage is if there is a cash shortage in the business. This can make it hard to start developing new income streams. We offer reasonably priced options for you to work with us and start offering over 700 courses. As a result, there is not a large capital investment required to expand YOUR business.
- So those are the disadvantages of expanding your business and starting a new income stream. As we’ve said, they’re not really disadvantages if you work with us.
But what about the advantages?
- Expanding your business can reduce external risk from competitors and the market generally. Well, did we say? We offer over 700 courses! High quality, current courses, developed by highly experienced educators and writers. Not many of our competitors can say that. Our writers are all experienced in their subject area AND in writing courses for online learners. Again, something many of our competitors do not offer.
- Offering more products and services attracts new customers. Imagine being able to offer hundreds more courses, this can hopefully increase your customer base and make it larger and more diverse.
- You increase your market influence by offering a wider range of courses and products.
- By offering new products and services, it also means that you are diversifying the businesses too, which again, provides more protection and more income streams.
If you are
- An existing education provider who would like to expand the courses you offer to increase your income or start a new income stream.
- Or a business who would like to start offering courses and eBooks to develop a new income stream.
Then why not get in touch with us and see just what we offer.
We offer –
- Individualised support as you start developing your new income stream.
- Extensive support from our Resale Manager, who can advise you and support you as you start adding our courses to your existing products.
- Over 700 courses, written by industry experts and online education experts.
- Over 150 eBooks in a wide range of topics.
And that is just the start.
Contact us to find out more on just what we can offer you
to expand your income streams.