By now you know what your business goals are, and you know how much revenue you want to bring into your business.

If you are contemplating what alternative ways to make money, check out our list below:

1. Improve the cash flow in your business: Do you have a cash flow forecast yet? Download a template here.

2. Consider different funding sources including credit cards, business loans, crowdfunding, angel investors and government grants.

3. Prepare your business for funding: Review your business plan, create a business funding proposal and prepare your financial statements.

4. Uplevel your marketing strategy: Look at different marketing trends and marketing tools you can use, and see which ones you can implement this year. For example, have you prioritised local SEO and video yet?

5. Consider an extra income source like running an Airbnb business. There are other business ideas you can choose from in this guide. To get effective sales and marketing techniques for your business, see the guide below:

New This Week (9 January 2024)

• Guide: Franchising in South Africa

• Guide: Youth Business Funding Opportunities in SA

• LISTEN TO: Change Your Future, One Habit at a Time

How can you run an animal feed manufacturing business?

South Africa has a large livestock market, so there’s always demand for livestock feed.

Here are at least three essential steps to consider when starting a livestock feed manufacturing business.

Market research: Conduct thorough market research to understand the demand for livestock feed in your area. Identify your target market (e.g., poultry, cattle, swine), their needs, and any potential competitors.

Location and infrastructure: Ensure your location is easily accessible for transportation and has enough space for production, storage, and office facilities.

Feed formulation and production process: Develop or acquire scientifically formulated feed recipes suitable for your target livestock. Invest in equipment and technology for the mixing, grinding, and pelletizing process.

Can you calculate your business's sales revenue?

 One of the financial documents that can give you a clear financial picture of your business's revenue is an income statement. This document can give you a view of how your business is growing; it shows you three important things: revenue, expenses, and net income.