Top Tips for Income Generation
These are five of our top tips to generating income for a social business:
- Sell your social value and impact – by promoting your value to commissioners, customers and supporters you will be able to develop a long term income generating relationship.
- Think of your customers changing needs and be flexible to meet these needs, i.e. how is the NHS changing? What is happening to education and social justice?
- Sell your products and services to new markets, i.e. do you have a health based product/service that has an educational benefit? It could be beneficial to develop new relationships with new customers from the education sector.
- Create and maintain a social media presence to raise your organisation’s profile and promote yourself to potential supporters.
- Be tender ready; create a tender team made up of operational and strategic personnel and create and ensure that you update all of the standard requirements, i.e. policies and procedures, financial models, accounts…
- Identify how you use funding within your organisation; do you use it for core activities and become reliant on it? or do use it for creating, developing and piloting new products to take to market?
If you would like to know more, contact one of our team who have a tremendous amount of knowledge and experience.go back to the news page