24 Ideas for Multiple Income Streams That Will Boost Your Profit Margins

Whether you sell service, products, or both, it’s likely that are missing several income opportunities for your business to generate even more money.

In this article, I share 24 different sources of revenue that can augment your profit margins.

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A Strategic Risk Perspective on the Future of Medicine

Healthcare is undergoing a big transformation… both for good and for bad.

Here are my thoughts about what the future holds, from a strategic risk point of view.

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What’s the Difference Between an Employee and an Independent Contractor?

It can be confusing to tell the difference between an Employee and an Independent Contractor (IC).

Whether you are a business owner, freelancer, or applying for a job, this article can help. You will see a comparison between these terms, and also why they are misapplied in Multi-Level Marketing.

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35 Potentially Harmful Dietary Supplements You Should Know About

Be sure to take your vitamins!”

This is the message we hear starting in childhood: that supplements are an essential part of a healthy lifestyle.

But despite a widespread belief that they are safe because they are natural, the truth is that some supplements can be quite dangerous. Rather than enhancing health, consuming them in high quantities (or in conjunction with other medications) could result in terrible health outcomes.

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7 Things HBO’s Chernobyl Taught Me About Devil’s Advocates

What can we do to avoid a catastrophe like Chernobyl?

Although your business may not be facing problems to the magnitude of a nuclear plant meltdown, it’s still possible to completely miss the warning signs that the ‘wheels are coming off the wagon.”

I have found that the best way to develop a resilient response to disasters is by relying on the feedback of Devil’s Advocates.

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How to Avoid Communication that is Sexist and Gender-Specific

We are all familiar with terms that de-value us. Women are especially targeted in business language that is intimidating, bullying, and offensive.

In this post, I’ll share some phrases that are commonly used in business communication but which have the potential to be harmful to your brand.

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Analysis of the Disclaimer from a Direct Sales Company

Direct Sales companies, also known as Multi-Level Marketing (MLM) and Network Marketing, are growing exponentially. (Check out a list with hundreds of MLMs around the world.)

But despite their popularity and far-reaching impact, the MLM business model is often predatory, unethical, and at times illegal.

In this post, I want to evaluate the Disclaimer of one MLM company to shed some light on how this model works, how these organizations view risk, and why you should proceed with caution.

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What to Do If Your “Year In Review” is a Disappointment

Some years, things go really well.

And some years, they do not.

If you’ve experienced a lot of difficulties in your business, you may be tempted to see it as a massive failure:

“What a crummy year! It was so terrible. I can hardly wait for it to be over.”

“The new year can’t come soon enough.”

Even you were not able to meet your strategic business objectives this year, I encourage you to consider the positives that happened, rather than speeding past it.

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6 Versions of the 3 P’s as seen on CNBC’s “The Profit” with Marcus Lemonis

One of my favorite TV shows is “The Profit,” a CNBC production starring multi-millionaire entrepreneur Marcus Lemonis.

CNBC The Profit, The Profit with Marcus Lemonis, Marcus Lemonis, The Profit TV show
CNBC The Profit with Marcus Lemonis

In each episode, Marcus evaluates a small business and decides whether to invest in its growth. The main tool he uses to make business decisions is called the “3 P’s of Business Success”: People, Process, and Product.

3 Ps, 3 P's, People Product Process, Product People Process, Marcus Lemonis, The Profit, CNBC's The Profit, CNBC, strategic risk
Marcus Lemonis – People Process Profit

I was curious about who first developed this concept. Was it Mr. Lemonis?

It turns out this concept has its origins in Lean (a systematic processing method used to eliminate waste). After doing some research, I discovered 5 additional versions that can add depth to your understanding of how to run a successful business.

In this post, you will see each of the six examples and illustrations, along with ideas on how to increase your level of business risk intelligence.

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How to Calculate the Impact and Probability of Business Risk

I was recently asked to explain the “Impact Score” in a Strategic Risk evaluation process. This is easy to do with a tool called the Strategic Risk Severity Matrix.

In this post, I’ll walk you through each step of using this tool, along with a practical example to demonstrate how it works.

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