Definition

Listing the different ways a business makes money from its products or services. Multiple streams help keep income steady even if one area slows down.

What to consider

  • Diversify to minimize risk.
  • Regularly assess each income source’s profitability.
  • Adapt strategies based on market demands.

Real world scenarios

  • A freelance photographer earns from print sales, digital licensing, and commissioned shoots.
  • A fitness studio supplements membership fees with personal training and merchandise sales.
  • A software company generates income from subscriptions, add-ons, and ads.

Related terms

Entrepreneurial Finances