The Income Dilemma

You can have it all, but you can’t do it all.
— Gloria Marie Steinem

Individuals and companies alike need to consistently change their financial strategy to accommodate an ever-changing market. This is a given. But values shouldn't be compensated, not for profit nor survival. That said, the money game can be challenging even where the most efficient, innovative products are effectively promoted, distributed, and supported. The following points, therefore, are worth considering when developing a sustainable, longterm plan that encourages business growth and avoids income dilemmas moving forward.

Recurring Income

Let's start off by addressing the elephant in the room. We all know that goods and services that offer recurring earning potential are ideal for any company, organization or solopreneur, but for those not yet applying it, the concept seems to always be pushed aside, or deemed not viable given the industry they're in or what they're selling. Large brands have figured out ways around this by attaching optional extended warranties, paid technical support, and related/periodical products to first-time customer purchases.

There really is no excuse for not making a repeat buying experience available to all clients in any market. Sometimes you just need to go back to the drawing board, and align your original vision with this future-proof way of doing business. Clearly, the difficult part is ensuring that value is brought forth. Reputation, after all, is timeless and should be held with high standards and as a high priority.

Flawless Delivery

Some choose quantity over quality, but we prefer the latter for several reasons. Firstly, it keeps a mission focused, which helps build strong brand loyalty and, ultimately, brand awareness. It makes customers view your company as a field leader rather than a generic commodity provider. Price isn't as much of an issue because something that's built well will always outlast a poorly-constructed item or system.

In the end, people want results. Purchasing decisions are driven primarily by this factor. So, how will you (or the brand you represent) be viewed if you can't match customer expectations, let alone exceed them? Previously, opinions weren't a huge concern because competition was lacking. But, today, if your product or service doesn't perform well, you will be left behind and forgotten. As they say, you can have it all, but you can't do it all. Or, in other words, focus on making your customers happy (preferably packaged in a way that feels familiar to them).

Where the People Are

Demand is, well, everything. Luckily, in this dog-eat-dog world in which we live, where it's tough being the most popular, new demand can be created. Original offerings, a unique spin on an existing product, and even ties to influencers in the same space can elevate a brand, positively affecting the bottom line. In a nutshell, demand need not be deemed a static or uncontrollable occurrence.

In the early stages, all of this will seem very complex, mainly because it is. But just because something is complicated at start-up, it doesn't mean that it isn't rationally achievable. Simply aim high, stay lean, and move forward regardless of obstables and opposition. Do this, and you will get your fair share.

Mario Fanzolato