Alternatively, you can choose to collect revenue from selling advertising space within your app. Then you can offer it as free to consumers and so expand the likelihood that they will download and use it.
Write a book
You no longer need a million-dollar publishing deal to get the knowledge you hold out into the public sphere. It is entirely possible to write and publish a book yourself via a platform like Amazon. You can even choose whether to offer it as an ebook or provide paper copies to customers.
In terms of your business, you may wish to publish specialist advice you have gained through your industry experience over several years. Something that you can then go on to sell to create an additional revenue stream or use as a valuable marketing tool. Although inspirational stories of personal success against the odds also do very well.
Investing in other areas
Another possible revenue stream to consider for your business is to use your profits and invest them in other areas. Many business owners often choose to invest in other companies, especially once that are in the same or similar industry to where they are currently working.
However, Forex Trading and other financial products can also be a smart choice for creating an additional revenue stream. The reason being that the expected rerun over the long term can easily beat regular saving accounts.
Of course, just like any other investment, success is not guaranteed; therefore, it's crucial to get to know the market you choose to put your money into well and carefully weigh up the pros and cons before you part with any cash.
Rent out space and equipment
One of the highest costs many businesses have to face is the accommodation and equipment they need to run. The funny thing is that once companies have paid out all this money, both space and tools can stand unused and go to waste.
With that in mind, one of the most cost-effective ways of creating an additional revenue stream for a business is to lease out either equipment or space when it is not being used. There are even websites online that you can list your items on, and that will, for a small fee, connect you with viable customers.