How to Open Up to New Revenue Streams?


I've just seen Netflix plugging their new rom-com, Holidate, with Emma Roberts and Luke Bracey. The movie's title is obviously made up of two words slammed together: Holiday and Date. This is called a "Portmanteau" where the sounds and meaning of two words come together, to make a new one with its own meaning. As in the case of Brunch (from Breakfast and Lunch). Portmanteau can be a rich area for ideating new ideas and revenue streams, and is a great way to have some fun while exploring the width of your strategic aperture. Let's stick with the theme of the movie, around travel. So let's say you're a travel company and want to think of new offerings and directions you could take your company and customers in. Start by making a list of key industry terms you could play around with: Vacation Travel Break etc Then loosen up and get playing and punning on 'Vacation'. This could give us a list like: Staycation - this one's a new and popular option, holiday in your own city, country, etc. Daycation -- what day trips could we offer? Praycation -- religious-themed travel Laycation -- adult-themed travel Maycation -- special prices and promotions for month of May? Greycation -- travel for senior citizens. Or to dreary parts of the world in mid-winter. Gaycation -- gays-only tours Straycation -- not sure what comes to mind here? Baycation -- holidays at famous surf and swim spots Bakecation -- a cooking-school centric holiday etc etc etc Then move on to playing with "Travel", "Break", etc and see what new insights and possibilities emerge. Soon you should have pages of new possible revenue streams to consider exploring further. An easy yet powerful way of broadening that strategic aperture. Hope you have some, er, pun with this technique. Good luck! Cheers. Stu.


About the Author Stu Lloyd International Trainer, Speaker, Coach and Consultant Stu is a professional storyteller for 30 years. He was a creative director in Ad agencies, author of 7 books, journalist, travel writer/blogger, specialist military history tour guide, TEDx MC/Speaker coach, trainer for Fortune 500s and entrepreneur. #presentationskills #communications #effectivepeopleandcommunicationsskills #Leadership #influentialleader #futureofwork #innovation #creativity #storytelling

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