Small business owners always are looking for ways to create additional income. During the holiday season, finding additional income options becomes more essential. This is the time when getting customers becomes difficult. People shop for gifts during the last quarter of the year, but they rarely shop for anything for their businesses. They want to wait for the new year when they have a fresh budget and stronger revenue projections. Therefore, small business owners need to capitalize on the shopping frenzy, but they also have to ensure they keep revenues going during the season.
- Be a Publisher. Companies offer options for companies to generate income from videos, advertising and digital marketing. You could sell videos, banners, mobile advertising and more.
- Create Rewards Credit Cards. Retailers know that selling credit generates more income than selling merchandise. The rewards keeps customers using the credit cards and coming back to the store regularly. Business owners get income from the interest on the cards, the annual fees, the cash back and the extra sales the rewards generate. They also provide loyalty by the customers. The customers win by saving money and earning extra income every year.
- Use High-Interest Accounts. For those emergency funds or the capital that small business owners save, you want to choose banks that offer the highest interest rates accounts. If you are able to sock away your money, you could choose a certificate of deposit, money market account or some other option for long-term investment that would provide easy liquid cash when needed.
- Get Paid to Search. Small business owners are searching everyday for information, leads, seminars, etc. Sites like Bing and Swagbucks pay you for what you need to do daily.
- Rent Your Space. Shared office space is a growing trend that is helping both the landlord and the tenant. The landlord and small business owner gets additional income, especially when they need it most. The tenant gets to interact with others who might have new ideas for them. Even if the tenant is not in your industry, you might be able to learn from the others in the office. You can ask questions of people who have been in business for years.
- Capitalize on the Holiday Season. Add items for the holidays that you don’t sell year-round. For example, if you are a health and wellness company, invest in essential oils that feature pine or spruce. If you are an online company, offer products that would sell in November and December but not April. You might even sell Christmas trees from your parking lot. If you own land, you could sell timber or Christmas trees. You might be able to devise a light show at your place and have people pay to see the show.
- Sell Your Car Space. Have companies pay you to advertise on your car. This will benefit you because you get the income. It benefits the other company because their brand is being seen as you drive around town or to sales meetings.
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