{"id":32699,"date":"2020-07-28T16:23:58","date_gmt":"2020-07-28T23:23:58","guid":{"rendered":"https:\/\/bamf.com\/?p=32699"},"modified":"2022-01-11T01:24:35","modified_gmt":"2022-01-11T08:24:35","slug":"how-to-diversify-your-startup-revenue-streams","status":"publish","type":"post","link":"https:\/\/bamf.com\/how-to-diversify-your-startup-revenue-streams\/","title":{"rendered":"How to Diversify your Startup Revenue Streams"},"content":{"rendered":"\n
There are two types of businesses, those who sell products and those who monetize everything. <\/p>\n\n\n\n
Monetization is a relatively new term or at least the use of it to signify turning a regular activity into a revenue stream is rather new. <\/p>\n\n\n\n
The term was initially popular for banking and trading operations and while it has been used to signify the conversion of business operations into money<\/em>, it hasn’t been used with a broader meaning and as often as it is today. <\/p>\n\n\n\n It was first popularized in YouTube marketing circles and primarily denotes the action of turning something regular you are doing into a money stream for yourself or your business. <\/p>\n\n\n\n Vloggers, or people who capture their daily lives in video form and share it on the internet, are the biggest culprit of the “monetization” of every aspect of your life. <\/p>\n\n\n\n However, the mindset is starting to shift in the business circles as well. <\/p>\n\n\n\n Although the examples of businesses implementing the strategy successfully are only a few, it’s becoming obvious that marketing and revenue generation can go hand in hand. <\/p>\n\n\n\n If you are still rather confused, let’s get a bit more in-depth about how a business in 2020 can diversify its revenue streams via monetization and achieve its marketing goals AT the same time. <\/p>\n\n\n Before we dive into the topic of revenue stream diversification, we need to tackle the generic structure of revenue streams in a business today. <\/p>\n\n\n\n The most common meaning of the term is as simple as it sounds. <\/p>\n\n\n\n A revenue stream is a source of revenue for your company. Simple and concise. <\/p>\n\n\n\n This stream can often be recurring, such as in subscription-based models, transaction-based, as in a B2C transaction, or project\/service-based, such as in digital agencies and construction firms. <\/p>\n\n\n\n Usually, within the broader business model, a revenue stream is a rather obvious part. <\/p>\n\n\n\n In fact, when most people think about starting a business, they often consider the revenue stream as a starting point. <\/p>\n\n\n\n “I’m going to sell X.” <\/p>\n\n\n\n Here, the sale of X is the action that the business takes. It becomes the main operation of the business. <\/p>\n\n\n\n The money that comes from the sale of X is the actual revenue stream. <\/p>\n\n\n\n Shifting your mindset to consider the action to be separate compared to the revenue stream often helps business owners and founders focus on the importance of bringing money to the company separate from the main operations as a whole. <\/p>\n\n\n\n It also helps you separate the main activities and ensure that they are properly tracked and optimized. <\/p>\n\n\n\nGeneric Revenue Stream Structures <\/h2>\n\n\n\n
How to Define a Revenue Stream? <\/h3>\n\n\n\n
The Revenue Stream Composition <\/h3>\n\n\n\n