The agency world can learn a lot from the lumber industry.
“The lumber industry sells what used to be waste — sawdust, chips, and shredded wood — for a pretty profit. Today you’ll find these by-products in synthetic fireplace logs, concrete, ice strengtheners, mulch, particleboard, fuel, livestock and pet bedding, winter road traction, weed killing and more.”
- Jason Fried, Basecamp.
You might recognize that name.
Basecamp was the “waste” or byproduct of Jason Fried’s web agency.
They needed to better manage their client projects.
So they built software.
That software is now one of the most successful project management platforms for small business owners.
Guess what, they don’t do services anymore.
One that can and will eventually replace and surpass your core services.
Selling your by-products is even more lucrative in tough economic times. We saw that first hand for our clients in 2020.
Finding new revenue streams from things you’ve already created helps pad your cash flow and keep the business churning.
Maybe it’s a workshop on how you do things or built something.
Maybe there are some templates or assets in there you can turn into something else that’s profitable.
It’s how we made the transition from agency services to coaching and training and you can too.
