Turning Expenses into Revenues (Part 2)
I shared how new capabilities can be used to generate revenue in new markets here:
But this isn't the only way. Not everything is a capability to be sold.
Here are more ideas...
I shared how new capabilities can be used to generate revenue in new markets here:
https://twitter.com/joshuamschultz/status/1377682319440498689?s=20
But this isn't the only way. Not everything is a capability to be sold.
Here are more ideas...
There are many expenses that aren't capabilities, but things you can't escape as a part of doing business.
If systems are created to process the output or waste of these processes, sometimes you can mitigate costs or even turn them into a profit.
For example:
If systems are created to process the output or waste of these processes, sometimes you can mitigate costs or even turn them into a profit.
For example:
1. We got a lot of boxes, so we starting bailing the cardboard and selling it.
2. We got a lot of pallets, so we de-nailed them and sold it for rustic wood projects (we found a shop that wanted it locally)
3. We had extra office space and so allowed local people to rent out an office for a daily rate.
4. There was inevitably bad parts that were to expensive to ship back to the supplier, so we brought these to the scrapyard to sell.
There are lots of ways to lower costs if you are shrewd.
They come from two main sources:
1. Capacity to utilization
2. Valuable Waste
If you have extra of something, you might be able to sell/rent.
If someone values something you do not, there may be opportunity to sell.
They come from two main sources:
1. Capacity to utilization
2. Valuable Waste
If you have extra of something, you might be able to sell/rent.
If someone values something you do not, there may be opportunity to sell.
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