Instead, leaders must pursue a highly diversified strategy, applying dozens of tactics across multiple areas of the institution. Fortunately, the Business Affairs Forum has identified 200 replicable revenue-generating tactics. Select categories and subcategories of some of the most promising opportunities are shown here.
While few tactics will alone generate tens of millions of dollars of additional revenue, at least in the short term, they can collectively sum up to significant dollars. The full library of tactics, with additional detail and revenue estimates, is provided in section two of this report.
Of course, not every idea is practical for each institution because of unique logistical or cultural reasons. However, this extensive list provides the initial due diligence necessary for the leaders or task forces charged with creating new revenue streams, and ensures institutions consider all options and leave no stone unturned.