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How can we increase revenue in a an economy that is struggling?

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6 answers

Report Maricarmen's answer

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Your profile indicates you are developing plans in several areas. Please see the suggestions at the following question here on Micro Mentor that may be useful: https://www.micromentor.org/question/4871

Report Kenneth's answer

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In a nutshell: you have to innovate.

Most businesses in most industries will have to innovate. There is no other way for you to increase revenue during this pandemic especially when millions of jobs are being shed and people have to subsist on reduced incomes and work changes.

For example, a cleaning business can increase their revenue by providing additional COVID-19 disinfection practices to assure their clients that they're on the cutting edge of current customer needs. This will help to differentiate the service from other services.

Apply the same thing to your own industry. Keep in mind that the economy is going to shrink by up to $2.7 trillion in 2020 and possibly take years to recover financially. The decline will be seen among many industries and especially in retail and travel. (Source: https://dealaid.org/do-good/coronavirus-finimpact-tracker/).

Report Samuel's answer

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change the strategy

Report Nayer M.'s answer

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go up in price!

Report Igor's answer

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Dustin Bowers,

You have posted an advertisement with a link to a profit making web site.

Please note the following quote from the Code of Conduct at the bottom right of this page:

"As a participant in the MicroMentor community, I agree to not promote goods or services from sources in which I have a financial or personal interest not accept fees or commissions"

Your posting has been reported and will be removed. If this type of posting continues, site management will remove you as well.

Please do not post obvious links to paid concerns in support of your replies. They will be reported. The policy is intended to keep Micro Mentor from becoming a spam exchange of self promotion and advertising, whether it is yours or others.

Report Kenneth's answer

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