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How will customers pay for your extra value?



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Unit Video

Unit Summary

4 types of popular revenue streams/sales include:
  1. Asset sales
  2. Subscription, usage or leasing fee
  3. Licensing revenue
  4. Advertising or brokerage fees

Build Your Action Plan

In this video we will look at different methods for generating revenue or money for your business through the sales of your products or services.
Revenue streams or sales refer to how you generate money from your customers. Different customers groups could pay you in different ways. A business has to make a profit so it can sustain itself and grow. Profits are generated through sales. This is why it is a very important part of any business.
4 types of popular revenue streams/sales include:
  1. Asset sales. This is where you sell a product to a customer who then becomes the owner of that product. This is the most widely used model in business and takes place any time we buy a car, computer or a building.
  2. Subscription, usage or leasing fee. This refers to when your customers pay to use your product or service. This is used in gyms, hotels, or rent a car businesses.
  3. Licensing revenue. This is when you give the customers permission to use your intellectual property. This is common in content production and inventions.
  4. Advertising or brokerage fees. This is money that comes from fees for advertising a particular product, service or brand, or when you introduce a buyer to a seller
Once you have decided on your target customers, you can then choose the revenue stream that is most suitable for them.
Then think about how much a customer is willing to pay you for the extra value you provide.