Contributed by vencorps
Chances are, that sometime in your life, you have double dipped. No, not putting the chip twice into the dip at a party (someone probably saw you do it too!), but instead, being able to create reoccurring revenue streams. So essentially, you make something once, sell it twice and profit three times from it. Double dipping increases the amount of revenue streams coming into your business.
So why do this?
Well besides the obvious answer of making more money, you also are able to do risk management. So in the event something happens to your business, you have that safety net of revenue of fall onto. An example could be The Rolling Stones. The Stones release a new album, profit from it and then go on tour to continue that stream of revenue through tickets and t-shirts. Therefore, if a crisis occurs, say their guitarist fell ill, the band would still have money coming in from the album sales as well as merchandise sold.
Therefore, it’s always a good idea to have a back- up plan and in the case of double dipping; it doesn’t hurt that the back-up plan can generate revenue also.
Contributed by vencorps
VenCorps™ is pioneering a new venture model. The goal is the same—attract, screen, and grow venture investments for high returns—but the approach is profoundly different. The classic model is offline, closed, and managed by a handful of experts. VenCorps™ is an open, collaborative ecosystem, like social networks, wikis, and innovation markets, enabling far more efficient allocation of resources.
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