When revenue slows down, businesses can explore alternative revenue streams from their existing operations. A car sales company can transform into a car leasing company during peak periods (like December) to generate additional income from the same assets. Similarly, property owners can transition from traditional rental to short-term rental platforms like Airbnb. This approach involves rethinking how existing resources can be monetized through different business models.
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Part of the things that stimulates you to grow [music] is is that your revenue has actually, you know, slowed down. This thing that you are doing like this, is there any other way to make money through it? There are people who we are selling things. I noticed a car sale company, car shop.
But in December, they turn themselves to car leasing company.
The same car, you know, they they sell car to make money. They decided now that we will sell some, but these other ones we use them for car leasing during December periods and we make more money.
That's also how you rethink your business model. So many people are no longer giving their houses for rent.
They are doing Airbnb. Is that okay?
That's how you rethink your business model. You think about the new possibilities related to your core business.
You know, there are some new possibilities that are related to your core business. And a very important example is a Coca-Cola that have listed.
Coca-Cola we use clean water to make Coca-Cola. All right? They have the capacity to make a lot of water they use in making those soft drinks. But what did they do? Looking inwards, they said this water we can sell it as well.
And then they started bottling it.
What's their brand? Eva. All right?
What's the brand for 7 Up? Aquafina, right? So all of them began to look There are things they have inside already by which they can also do. There is also this issue of a product extension that you can do. You know, in pharmaceuticals we do that a lot. We brought We brought out a vitamin, the name is Centrum, and you are doing a lot of Centrum. I said, "Ah, this is nice business." Now Centrum is no longer growing. Let me give it another growth. I added just a little thing and I put it Centrum >> [music] >> for women.
I've extended it, right?
Centrum 50 plus.
Centrum kids.
You know, before you know it I have developed 10 new extensions that I am deriving from what I was already doing.
Business scaling opportunities must first of all be identified, validated, assessed in the most possible and efficient way. Thank you.
>> in >> [music] >> a efficient way. Thank you.
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