The business tip cruise lines missed out on that you should be using

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During this crisis arguably the first big industries to be hit were the cruise lines. The cases of Covid 19 ran rampant on the tightly packed ships and naturally, the travel industry was hit as a result. I’ve been on a ship that had quarantine due to stomach flu, in a coronavirus filled world it appears cruise lines are doomed to financial peril for the foreseeable future… or are they?

I’m going to share with you the big business tip I feel all cruise lines missed out on so that you can start using it in your own business or industry, and if you don’t have a business you could easily use this same tip to start one.

This tip is part of the program I created recently called the crisis opportunity and you can enjoy the entire program for FREE by clicking on this link.

CLICK HERE TO LEARN MORE

Make Money Off Assets

The key thing to keep in mind is that business is all about making money off of assets.

Typically most window cleaners believe they make their money from cleaning windows, likewise drivers believe they make their money from driving.

NOT TRUE!

A window cleaning company makes its money off it’s cleaning assets, namely the staff, cleaning materials and the homes that need their windows cleaned.

A Freelance driver makes their money off of their Freelance driving assets, their own driving skills, their vehicle and the energy that moves the car.

There Are Other Ways

While it is true that typically this is done through the act of the service that is provided… it isn’t the only way.

For example, a window cleaning company could sell it’s cleaning materials, after all, it probably gets them at a discount for buying in bulk. At a time like this where cleaning supplies are scarce, this would be another way for a window cleaning company to grow it’s revenue.

Likewise, a driver could rent out their car for others to use every evening while the driver wasn’t working. By keeping their car working 24/7 they could be earning even while they were resting.

These are 2 alternate ways to generate income from the assets the companies possess.

Likewise, the cruise companies are failing to utilize many of their assets to safeguard their income during this time.

Should Have Created A Channel

The one obvious one to me is their entertainment network.

Cruiselines have the ability to broadcast their signal and each ship is packed with camera equipment. Likewise, cruise lines have one of the most extensive entertainment staff networks in the world. 

To me, it would have been an obvious choice to have those entertainers, singers, comedians etc to continue entertaining … but instead of localizing them to the ship… have them entertain the world.

They could have created the first LIVE Netflix competitor. Tune in every night online to see new live acts. (Cruise lines have already been doing this for years) The only difference is they would be working with their entertainers remotely.

The past clients and diamond members could watch for free, new people could watch for a small monthly subscription, or the cruise lines could make their income back from ads.

Either way, it would keep their brands in the minds of their customers and more importantly, it would enable them to keep revenue flowing.

Most of the time the trick is to look at the assets you have and ask yourself how they can be repurposed into making money in other ways.

This is the key to unlocking financial growth in your company at the best of times… and in the worst of times (like right now) it’s a necessity.

Check out the workshop I made where I share a number of different ways to find opportunities in a crisis by clicking on this link.

CLICK HERE TO LEARN MORE!

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