By Design
Success always requires a level of resilience, and if you want your Crypto business to survive and flourish, you are going to have to structure it accordingly. Studying different businesses in different sectors will reveal a dynamic familiar to most of them, and it comes down to varying product types and services.
For instance, a restaurant will have light meals that tend to see more volume. Along with high volume menu items are specials. In both these cases, the dollar value is perhaps lower, but the volume is substantial. Then there are items with a rather hefty price tag. However, volumes tend to be lower.
Furthermore, there are additional items such as drinks and desserts, which can be used to increase the revenue of the restaurant. Long story short, the business is designed to flourish based on meeting multiple needs and multiple budgets. The image below shows how additional menu items help to bolster the turnover of the core business.
A Crypto Business should be no different! There should be varying exposure to different income models. This provides income from all angles. Sure, each “business” will be different. If you are primarily a trader, then much of your model will be geared toward trading. In a similar way, a content creator will focus primarily on the creation of content.
Just as a restaurant enhances its core line with additional items, a trader or content creator needs to incorporate additional income sources to ensure that the business performs well throughout every season. This is also a very important aspect of growth. Many times, a certain supportive mechanism enjoys an extremely profitable period.
As a result, the business experiences growth outside of its “core”. This can change the entire dynamic of the business, as another arm or arms of the business begin to enjoy unexpected prosperity. Let’s take a look at how this might look in the Crypto space. Due to the abundance of opportunities within the Crypto world, it can become rather exciting!
A Simple Crypto Business Model
Let’s say that this particular business is run by someone who is primarily a trader. A trader will be performing a fair amount of analysis, as well as sifting through other data. This automatically provides an excellent opportunity for content creation. The research is essential in order to trade successfully, and so choosing to package it in the form of published content is actually a smart way of creating an additional arm to the core business.
Then there are other passive ideas that can be incorporated to provide further supplemental income. This can be achieved via staking, DeFi, and other dividend-paying opportunities such as BetFury and others. A Crypto-based business can also choose to diversify into dollar-denominated ventures, which provides an additional form of security in and of itself.
An opportunity such as HBD is perfect for such an endeavor. Ultimately, this will provide the business with a guaranteed fixed amount of income that is not swayed by the volatility of the Crypto market. Having some type of stablecoin investment and income is always a good idea. As you can see, the core business can be expanded in multiple ways. This creates a business model that is inherently stronger, due to additional arms.
In short, a trader can enhance his business by packaging his research and analysis as content. Furthermore, staking, DeFi, and other dividend earners can be incorporated for additional revenue. On top of that, further support and additional income can be achieved by leveraging a stablecoin opportunity such as HBD. These ideas can be expanded upon even further, ultimately enhancing the business to a greater degree of profitability.
Final Thoughts
It’s always good to have a strong focus on a certain aspect or area of your business. However, not incorporating additional, and in many cases, effortless income ideas can hinder growth. Expansion creates additional income, which ultimately reduces pressure on the core of the business. This is especially important during challenging times.
This is very much a win/win scenario. In difficult times, the burden is alleviated, while in good times, profitability is increased. In many ways adding additional mechanisms to your core business is a form of protection and insurance. That’s it for this one. All the best and catch you next time!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.