New Poll - What's The Best Way For A Startup To Earn Revenue?

[Scunizzo]

It's time for another poll here at Young Entrepreneur! This time we're asking "What is the best way for a startup to earn revenue?"

Most startups are full of passion and great ideas but their businesses fizzle out because they can't bring in enough money to keep themselves afloat. If you only have 3 to 6 months to start making enough to live off of, what is the best way to do it?

As always, your answers will be shared with the Young Entrepreneur community and will help inspire other new businesses owners to get started. Your answers can help make the difference to help a new startup make it and not have to close down shop.

Looking forward to your comments!

Here is the blog poll: http://www.youngentrepreneur.com/blog/category/poll/

[pboychuk]

I think the best way for a startup to earn revenue is cut expenses. It seems when most people start a business they get a loan and overspend thinking it will all be earned back, this may work in the long run, but for 3 to 6 months, do more of the work yourself, spend less on everything that you think you need.

[Iamnotsatisfied]

By putting back any profit no matter how small back into the business. Growth is the key here.

[cybergift]

Hi Evan,

The best way for a startup to earn revenue is by implementing a business plan that can give more values and solutions to what people need.

[Rzelvenschi]

Hi there,

The best way to earn revenue for a start-up is at some point stop setting things up and just start SELLING. Sales is a life blood of any business and the sooner you start the sales the sooner the money comes in.

[rogercbryan]

Originally Posted by Rzelvenschi

Hi there,

The best way to earn revenue for a start-up is at some point stop setting things up and just start SELLING. Sales is a life blood of any business and the sooner you start the sales the sooner the money comes in.

This is the only logical answer... I thought I was missing something before this post..

The only way to generate revenue is to sell your product or service. There is no need for a poll or a survey... just sell.. thats all you need to know!

[gsideman]

No one will know that the business exists if it doesn't launch a marketing effort soon after the ink is dry on the business plan. Create a clear and concise message and repeat it at every exposure avenue visited by your targeted audience.

[butler68]

You have to spend money to make money as a new business. Advertise!

[travisfitzwater]

Start selling a good product as soon as possible. Receiving revenues right away begin to offset the cost of a startup. There are those who want to read, research, plan, etc. all day, but it's those who take action that succeed in this society.

Travis Fitzwater
Seeking Freedom from the Rat Race!

[mbrand2222]

Hi Evan! Good to see you on this forum as well as your own.
I believe that to get a business up and running successfully, you have to do a combination of the things several of you are saying: advertising and selling. Your advertising has to be very smart at first, being sure not to waste a dime. Many things can be done for free now, even if you're a brick and mortar business. Get involved right away in the Chamber of Commerce in your area. Be evident at fundraisers and work your elevator speech into conversations somehow. Use your kids to pass out flyers. Do co-op advertising with local businesses. Just be a positive role model in the community and you'll earn respect; which goes a long way in business. I think when your business is just getting going is the time you really have to be frugal with any money that you can get your hands on.

[fated]

To create a marketing system that can attract customers easily. First, you need a way to make sure customers will come back again for your products. Subscription based works well. 2nd, you need to come up with a reason for them to buy. Maybe a one month free etc.

[anonymousadguy]

Put together a marketing plan based on your projected cash-flow needs. How much money does your business need each month to cover costs and stay afloat? How much will it need to begin making a consistent profit?

Now look at what you sell. How much business do you need to do each month to bring in that required revenue? Then build a marketing plan based on bringing in that amount of business for the lowest possible investment. And create incentives for customers to act now.

There are two big mistakes small business owners make when starting out. One: not paying themselves, which forces many to give up too soon. And two: taking on all the work themselves instead of running the business. A healthy business can pay you a salary, and is scalable enough for you to bring in workers when needed, while you concentrate on running (and growing) the business.

Anonymous Ad Guy

[CIsaac]

Earn revenue by having great sales tactics--selling while not getting caught up in the backoffice work and creating sales methods. Finding a smart way to have sale prices often, showcasing your products or services through sales, or adding some extra incentive or package pricing for the client. Also teaming up with a business that targets your audience. The key is also making sure keep expenses level while selling--so gross margins and profitability ratios don't get messed up.

[Scunizzo]

Thank you everyone for your replies! The results are in:

YoungEntrepreneur.com Blog » Best Way For A Startup To Earn Revenue? - Entrepreneur Poll Results

[deucexfiend]

Originally Posted by Rzelvenschi

Hi there,

The best way to earn revenue for a start-up is at some point stop setting things up and just start SELLING. Sales is a life blood of any business and the sooner you start the sales the sooner the money comes in.

Sales seems to be the cornerstone of any business! No sales...No money...and eventually no business!

Excellent observation!