Money, money, money: what is income stream?
Si está;If you are studying the Canvas Business Model, surely you have wondered qué; is the revenue stream. This, ademá;s to correspond to one of the sections to fill in/answer in your business project, se trata de una de las preguntas má;s important because, despué;I know everything, the basis of your business is billing.
The income stream is focused on precisely that: ¿;có;how to monetize my business to make it profitable? Debes preguntarte de dó;nde van a salir tu facturació;no why, despué;I know everything, that is the basis of any business: make profit and survive in the harsh market.
having mentioned money, apuesto que tengo tu atenció;n, así; que sigamos hablando un poco má;s sobre que es el flujo de ingresos y todo lo relacionado con é;l.
Important aspects of the income flow
The income stream is the way in which your value proposition becomes profitable and can be monetized. We must know that:
- It can come from different sources: La forma má;s linear to see this is that income comes from the sales of your product or service, pero puedes ir mucho má;s allá;. Puede obtener ganancias desde muchas otras fuentes y lo irá;s identifying by understanding the movement of your customers and the money they invest in your proposal. Así;, no solo podrí;How to receive profits from the sale of your main product, but you can get money from advertising sources, sponsorships, suscripció;n for being attentive to the news, licenses, etc. ;
- Cuestió;strategy no.: La forma má;It's simple to establish the prices of your products is calcular su costo y añ;add a markup. Esta es una idea arcaica pues los precios deben determinarse de forma estraté;gica and then, trabajar sobre ese precio. ;
Importance of income stream
Determinar el flujo de ingresos de tu empresa es fundamental porque te ayudará; a:
- Define your sale price. Sabiendo cuá;l is the cost of your value proposition, pueden jugar con el porcentaje para determinar cuá;how much you must win.
- ¿;Vá;read for multiple segments? with the income stream comprenderá;s if your product can reach various market segments and if it is necessary to establish different costs for each of them.
- It is used to determine cuá;How many clients do you need? so that your company begins to be profitable.
- Identificará;s cuá;which sources of income are better for your business and, so, pondrá;s atenció;n a ellas. ;
You already know what income stream is: these are your types
- Sale of products or services: La forma de negocio má;s familiar and simple. You have a product or service and the customer pays to get it. Las transacciones pueden hacerse en una tienda fí;sica, online o a travé;s from third parties. De optar por la tercera opció;n, then you must take into account the percentage that this intermediary must earn.
- Fee for use of product or service: Usually seen in negocios de telefoní;a, posting, etc. In this type of income, mientras má;s consumes, má;you pay. With this strategy, el empresario se asegura que el cliente no use el producto o servicio má;s of the time needed. ;
- subscriptions: As in the case of Netflix or Spotify. After paying a monthly fee you can enjoy its content unlimitedly.
- freemium model: They are businesses with a product or free service and one paid. Users are always offered the free one as a way to get them hooked on the product. When they want to enjoy other benefits, deben pagar la suscripció;n premium. ;
- Pré;we are, renta o leasing: Ocurre mayormente en el mercado inmobiliario y automovilí;stico. You rent a car or a space (casa, apartment, local comercial) for a set time and you can renew the contract.
- Broker (comisió;no of intermediaries): It is the revenue stream model of platforms like Airbnb, Uber or Mercado Libre. They serve as an intermediary between the client and the seller / host / driver. To serve as a bridge between the two, ganan una comisió;n.
- License: It's what happens with software. The license is sold to be able to usar un programa informá;tico. Tambié;does not work on products protected by intellectual property.
- Advertising: Muy comú;in this digital age. Los ingresos provienen de cuatro mé;all: permanent (the advertiser pays a fixed amount for advertising on a website or platform), per lead (you get paid for every lead you bring to their business), por acció;n (se paga por una determinada acció;n that a user completes in the ad) or per purchase (ganas una comisió;n por cada producto vendido a travé;s from your web or platform). ;
- Interests: Ocurre cuando el flujo de ingresos proviene de la rentabilidad de tus activos. ;
¿;Có;how to get the income stream?
It is not an easy task that involves thinking about the client and their needs. For this, it is necessary to have a good value proposition that convinces the customer to pay for your product or service..
Te dará;s cuenta que el mecanismo má;s obvious income stream is not always the best. For instance, Mc Donalds es un local de venta de hamburguesas pero no recibe la mayorí;a de sus ganancias de lo recibido por ellas sino por la venta de su franquicia y el alquiler de sus espacios. ;
Nevertheless, te damos una guí;a que podrí;a ayudarte a dilucidar có;how to get your income stream:
- Consult your clientss: Segmenting your market, podrá;s know the buying behavior of your customers. Tambié;n puedes hacerlo a travé;s de encuestas. ;
- Cuá;How much do you need to make your business profitable: Income stream is not the same as profit, but it serves to pay the regular expenses. Ten en consideració;at this point because, como dirí;an por allí;, no vas a “;regalar tu trabajo”;.
- ¿;Có;How do your clients pay??: Understand your customer movement. ¿;they pay in cash, transfer, o a travé;s of other movements? Saber esto te llevará; a ampliar tus opciones de pago a fin de ofrecer diferentes formas a tus clientes. ;
- Study your income stream: If you have multiple customer segments, estudia con cuá;l generas má;s earnings. It's not about eliminating someone., but to prioritize resources to keep things running for that business segment.
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