-
Revenue stream required to create growth and future-proof services
Problem: Current operations and services are stagnant or declining in sample industry
Need: New or diversified revenue stream required to create growth and future-proof services
Proposal: A review of the services and business model at the company revealed an opportunity for a new revenue stream. Expertise in local regions, strong panels and industry requirements illuminated an opportunity for the company to diversify and leverage in-market expertise and even panel strengths into a new qualitative service offering
Approach: Conducted a needs analysis to understand what the company already had in-place, what needed to be repurposed or adjusted, and what external resources were required.
Final Outcome: After a 6 month review, training and resource gathering effort, a new unit was created to offer qualitative services. The first year revenue was $300,000, the second year revenue was $650,000 with future growth estimated at 25-30% YoY. While not a core offering, the complementary unit helped to fill the gap on sample revenue decline, using minimal investment and repurposing in-house resources.
Approach: Conducted a needs analysis to understand what the company already had in-place, what needed to be repurposed or adjusted, and what external resources were required.
Final Outcome: After a 6 month review, training and resource gathering effort, a new unit was created to offer qualitative services. The first year revenue was $300,000, the second year revenue was $650,000 with future growth estimated at 25-30% YoY. While not a core offering, the complementary unit helped to fill the gap on sample revenue decline, using minimal investment and repurposing in-house resources.
