Why Your Business Needs More Sauce
March 30, 2009
Sauce is a great way to protect your business in a downturn. And more sauce may also enable your business to earn way in excess of what you’re making now.
Magazine publisher Felix Dennis claims that he didn’t make any “real money” until he’d came up with at least a dozen recipes for adding sauce to his business. And all that sauce has taken his net worth to around $900 million.
No matter what type of business you have, more sauce could make your profits sizzle, once you know how to do it.
It’s Not Just Pie In The Sky
Imagine you own a pie shop in Kansas and you make the best pies in the world. Trouble is, only people from Kansas know about your pies. You approach places like Walmart but they don’t want to stock your pies, as they already have plenty pies of their own.
But because you’re smart you do a bit of research and your customers tell you that it’s not just your pies they love. They just can’t get enough of that great sauce you sell with the pies. And if you sold it in buckets, they’d put it on everything.
So you haul your sauce to Walmart. And they say no to selling it in buckets but bottles would be good. So soon you’re selling tens of thousands of bottles of the stuff and you realise you’re not in the pie making business anymore, you’re in the sauce making business. But that doesn’t last long.
Those sauce loving customers just can’t get enough of your stuff, so the shops change their mind about your pies and soon they’re selling mountains of those too. Then you start making cookies but they crumble. So, because you’re smart – you forget the cookies and look for more profitable baskets to add to your business instead.
6 Reasons To Add More Sauce Recipes To Your Business
- Protection from Financial Disaster: If you have several streams of income and one flops, it shouldn’t ruin you financially, so long as you cut your losses early on.
- Take Advantage Of Trends: While it might not be smart to bet the farm on the latest fad, you can still profit from it, if you have other streams of income.
- The Risk Factor: Fear of failure discourages a lot of people from taking risks. But if you already have several streams of income, adding another one is far less risky.
- Attract More Customers To Your Existing Business: A new product may enable you to attract more customers to your existing business.
- You Can Make Extra Income With Less Effort: The more baskets you have, the more well known you become, so you can actually add streams of income that require little investment of time and money on your part. For example, you could get someone to ghost write books in your name, or you could lend your company name to other businesses, for a fee.
- More Fun: Unless you’re happy to spend several decades being bored, in return for a payoff that you may eventually live to see, adding extra flavours of sauce to your business keeps things exciting.
And It Doesn’t Matter If You Don’t Like Pies
I can’t think of any type of business where this could fail to work. Even in the music business, the folk that have added more sauce make the most money.
Obviously, touring is a huge earner. But many musicians look for less obvious income streams. 50Cent has launched his own Magic Stick condoms. You can learn new Dance Moves at: DanceJam.com, MC Hammer’s website. And Joe Perry of Aerosmith really does sell his own sauce. Rock Your World Sauce comes in two flavours: Boneyard Brew Hot Sauce and Mango Peach Tango Sauce.
Writers make more money by adding baskets too. J. K. Rowling would have made a lot of money from her Harry Potter novels alone. But adding film rights and merchandising rights made her a billionaire.
But extra money for novelists doesn’t just come from films. Tom Clancy has made millions from videogames and Danielle Steele has profited by adding her name to perfume.
And It Doesn’t Matter If Your Only Talent Is Taking Your Clothes Off
The careers of glamour models may not last as long as their silicon implants but those who are smart can make far more money in other areas than they can for baring their naked flesh. Jordan (aka Katie Price) has made millions from additional baskets including ghost written novels, perfume and even an equestrian range.
But You Don’t Need Silicon Boobs To Do It
Donald Trump will never be a glamour model and he probably won’t get silicon implants either. But that hasn’t stopped him from adding extra baskets to his business. Even though the housing market is in trouble, he’s still raking in the cash from additional baskets including books and the Trump University.
And on the other side of the pond, Richard Branson has added dozens of baskets to his business. Some have been a huge success – like Virgin Airlines, while others, like Virgin Cola have gone flat.
Branson also makes money by lending the Virgin name to other businesses. This is a smart move, as he gets paid but he doesn’t have to risk his own cash to make a profit.
What do you think about all this sauce? Please share in the comments section.
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Image Credit: Stephen Saucier
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