Nigerian churches and businesses start by having a key revenue stream and they continue to tap that revenue stream even when all signs are showing that it is drying up. Here is a key revenue stream I noticed last Sunday at a church I went to.
I want to stir your mind to look for other income streams that may be obvious to every one in your system except you.
I went to worship at Pastor poju Oyemade church last Sunday. Now before the service began, there was about forty minutes of powerful praise and worship. As the praise and worship was going on, I saw a massive income generating opportunity that the church like most Nigerian churches was missing.
I noticed that as the praise and worship was going on that a lot of the members were recording it on their devices. This immediately told me that a lot of people in that church were ready to buy the recorded session if it was burned on a CD or put in a downloadable format on the church website.
Just imagine the immense opportunity that Nigerian churches are missing simply because no one has realized that people are willing to pay for these praise and worship sessions. In fact a lot of Nigerian churches have not even realized that their members would love to have a copy of the sermon they head on a Sunday and thus would readily pay for it. These new stream of income may just be what a lot of Nigerian churches need in this tough economic times the country is passing through.
when it comes to businesses, I remember what Richard Branson said about opportunities. He said accept a big opportunities including those you don’t understand,then go and learn about it. A lot of us are locked into some specific ways of generating income that we fail to notice untapped potential in our business.
One of my biggest advocate is a business man that had been selling electronic gadgets for years. He was passing through a tough time because his competitors were slashing prices. I advised him to start servicing those same products for his big buyers.
Today, he makes millions of naira and over 80% of his income from the new revenue stream that had always being in his system.
I see pharmacists that make over 300 k per day and noticed that their revenue come mainly from unconventional revenue sources that is found in all pharmacies. Start now to deeply look at your business and you will be amazed at the opportunities you will find.
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