Building Multiple Revenue Sources

After you've taken the time to document a revenue source plan, you'll want to provide yourself time to observe implementation efforts and analyze progress. Compare your performance against the measurable objectives you identified in your revenue source plan. Ask yourself:

• Are we meeting the mark?
• Where are we falling short?
• What evidence exists to show that we are over- or underperforming?

Unfortunately, not all revenue development efforts will take root and yield a valuable return on investment. By carefully noting evidence of your organization's performance, you can target areas for improvement or revise your revenue source plan accordingly.

If you find evidence that your organization is not performing as expected or is not on target to meet the objectives you identified in your revenue source plan, you'll need to do some further research to get at the root of the issue.

In diagnosing the issue, aim to identify whether the revenue source is falling short due to internal factors, such as your own staff and the design of the initiative, or whether external factors, such as a generally weak economy in your local area, are at play.