Diversifying for Profit.
It has always been the case we have offered social media management services, search engine optimisation and web design as our core business products.
But these limit what we can do, and orders are not always regular, therefore diversifying into different areas and businesses is the way to go.
We now offer content writing, reporting, press releases as well as website maintenance. On top of that, we sell access to our own stock photo collections and recently invested in a large number of ornaments for retail via social media channels. We are not actually selling them ourselves (at present anyway), but supplying the stock on a pay per sale deal, this way it means that the people selling them on our behalf have no money tied up in stock and we both make a profit on every sale.
By spreading ourselves in different areas, it ensures that we always have money coming in and that is then available for future ventures.
Thanks for reading.
Posted from my blog with SteemPress : https://blog.socialmediaseoservices.co.uk/blog/managing-multiple-businesses/