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Opinion holder entrepreneur Contributors are their own.
Every business will hit a plateau at some point. At this point, it may seem like the only way to increase sales is to invest time and effort into drastic measures. If you’re a small business trying to reach 1 million, or 5 million, or 10 million, ideally you need a strategy to get there. This is how big companies do it. Set sales targets and plan a precise roadmap from point A to point B.
A few years ago, when I was trying to reach my first $1 million in annual revenue, my approach to business growth was: So it was an approach to try to earn money little by little over time. However, this is not always easy. Because, as I mentioned earlier, many entrepreneurs feel they have reached their revenue potential. Finding creative ways to make more money can take time and effort.
Before I left the Air Force, my online business was averaging about $300 a day selling digital products. After that, I started selling exercise equipment and sporting goods. But at some point I wanted to average $500 a day. I managed to do that and tried to grow the business to $1,000 every day. I achieved it and felt it was possible to make $2,000 every day.To my surprise, I did it. Ultimately, the business averaged $3,000 a day, or about $1 million a year.
how did you do that? Found a new clue. In addition to my website, he had five revenue streams that had a significant impact on my business.
1. craigslist
The first hidden source of funding was Craigslist. It started with selling used items in good condition and returned items. I got so many leads from the website that I ended up listing everything that was popular – new and used products. is to work too. We included the company name, address and phone number in the footer of all ads. My business has seen the full range of customers from high school coaches to law enforcement officers. New customers also mean new referrals. Craigslist was a valuable source of income.
RELATED: Market Your Business on Craigslist
2. Offer up
A second overlooked source of revenue was OfferUp, another classified advertising marketplace for new and used goods. Ironically, one of my girlfriend’s Craigslist customers suggested trying OfferUp. It was still a new mobile app at the time, so I was surprised that I had never heard of it.
After listing some products as a trial, I received several inquiries on the same day. OfferUp had several features that set it apart from its competitors by facilitating payments and nationwide delivery. This was a bonus as my product now has national access instead of local.
3. Facebook Marketplace
A third source of hidden income was the Facebook Marketplace. Existing Facebook users can post anything for sale and show it to a wide audience. We estimate that we received 10 or more inquiries per day for a single product. As a dealer with an endless supply, I sell the same items repeatedly, and the Facebook Marketplace was a great supplemental source of income.
RELATED: How to Make Social Media Marketing Effective for Your Brand
4. Let go
The fourth source of income I found was Letgo. Whenever you can make money without spending anything, it’s always a plus. While not as a source of revenue as the resources above, Letgo served as a strong source of sales. Listing products on the app is free for most sellers.
5. Etsy
The fifth and final hidden source of income was Etsy. This website features handmade, vintage and craft supplies sold by individual sellers. Since Etsy sells only new items, classified ads are not shown. However, new products may be made from post-consumer or recycled materials.
We discovered that we could reuse certain items we already had in stock and sell them on our platform. With so many users, I have to say that Etsy has always been a steady and predictable source of income.
Before expanding its presence on these five platforms, it sold its products exclusively online through its main website. There were also warehouses for distribution, but they were not always open to the public. At one point, I coordinated and opened a small showroom where customers could pick up their orders. When business was stagnant, I put out a guide advertisement. Advertisement respondents almost always purchased additional items when they arrived to pay for the item. I saw an opportunity here.
RELATED: 5 Minute Mentor: How do I get my product in front of customers online?
In the end, I was able to open a highly successful 4,000 square foot retail store. But it all started with a simple challenge. It is to solve the problem of stagnating sales. My business achieved dramatic levels of growth when I took proactive steps to find new leads. Ultimately, getting a lot of attention for my product was the key to success. This is achieved through the use of classified advertising websites, mobile apps, and other resources that ultimately serve as free advertising for my business. This is one of the best decisions I have ever made as it exposed my product to new customers and led to increased sales.
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