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Additional Revenue Streams in Business

May 01, 20233 min read

When you launch a business of any kind, you will find that there are many additional opportunities to add to your business through various revenue streams.

If you are a nurse starting out in the development of your business, I want you to be aware of some additional income sources that you may not be aware of. These include affiliate agreements, sponsorships, add-on services, upgrades, memberships, trainings, and referrals.

There's an old saying, “you're either being sold to or you're selling in business.” I couldn’t agree more, but this always sounded so dirty to me - probably because business was not my first career path.

When you come from the nursing path, I tend to believe we nurses come from a side of helping, and with that, a level of empathy. We are very honest and giving on a lot of fronts. Sometimes too much.

As your business becomes more prevalent to others, people are going to find you and your business - especially with social media. With the eyes on you and your business comes people with their business. Some of them may want to work with you either through promoting their product or perhaps trading with them lateral referrals.

It may seem like a great opportunity to join forces or to partner with another, but some of these joint ventures come at a price. You have to be able to establish boundaries for yourself and your business.

In foot care, we may be asked to sell a product to our seniors. These can range from fad products to fungal solutions to referrals. I say buyer beware. Do your research on the product, the business, and most importantly the person you are in discussions with.

With the help of the internet, it is so easy to do your own research. Read reviews and testimonials. Are there any negative ones? If so, let this be your red flag especially if there seems to be a pattern of them. When the market speaks, we need to listen.

Understanding that your client base trusts YOU. They are depending on you to make the informed best decision for them. They are most likely not going to do the research to gain the knowledge about these offerings themselves. This is what makes them an easy target to sell to.

In senior foot care, we are caring for primarily a vulnerable population. I have turned away more offerings than I can count, based on what I have found. This could be because I didn’t believe in the product, or I didn’t trust the company of the person representing the company. Could I have made money providing those offerings? Absolutely! At the end of the day if that product doesn’t work, I am the one who will be sitting in front of the customer having to explain why the product failed them. That is a loss of trust, and trust is everything to your customer - especially our aging population.

Therefore, you have to have an understanding of who you are. Understanding your business values and morals will anchor you in your business. How to effectively communicate that to your consumer is through the trust they have given you. Don’t do anything to disrupt their trust and faith in you and your business. If you are offering something only to hit the sale, you will lose every time. Stay true to who you are in your business by honoring your customer through honesty and integrity. Agreeing to sell a product just for the sale or the easy money is only selling yourself short in the long game.

Enroll in our next free information webinar and learn more about growing a successful nursing business with the help of The Foot and Nail Institute®.

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Heather Wilson is a former bedside nurse turned nurse entrepreneur. She is the owner of Everyday Divinity, and the Foot and Nail Institute.

Heather Wilson

Heather Wilson is a former bedside nurse turned nurse entrepreneur. She is the owner of Everyday Divinity, and the Foot and Nail Institute.

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