Turning Byproducts into Breakthroughs
Uncle John’s Legacy: What’s Your “Chum”?
My Uncle John taught me one of the most valuable lessons in business—sometimes the greatest opportunities come from things you might be throwing away. He took leftover fish parts from his cannery floor and turned them into a product called “chum,” which eventually drove nearly half of his revenue and expanded his business into new markets. This lesson has shaped how we approach our own work, always on the lookout for our version of “chum”—those byproducts that can become standalone products or services.
How We’ve Found Our “Chum”
Following Uncle John’s philosophy, we’ve been digging into our own processes to identify byproducts that can drive new revenue, acquire new customers, and diversify our business. Here’s what we’ve launched so far:
? DASHBOARD: Originally designed for internal use as part of monthly digital marketing performance reviews, this analytics platform has been reimagined as a standalone SaaS product. It’s now available to anyone looking for an easy, data-driven way to track their marketing ROI. What started as a tool for our clients has become a broader opportunity to bring in recurring revenue while also opening the door to new customer segments.
? Web Design Resources Pivot to UI/UX Development: Our web design team, which typically focuses on client projects, has pivoted to work on UI/UX for our own SaaS solutions. By utilizing in-house talent this way, we’re able to expedite development timelines and reduce outsourcing costs, all while giving our team the chance to shape the future of our offerings.
? Templatized Digital Marketing Programs: Over the years, we’ve developed many custom digital marketing campaigns for clients. We’ve since turned these into generic templates that can be shared with all clients as part of a growing library of best practices. This not only provides immediate value to our clients but also reduces time spent reinventing the wheel for each new project.
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? Managed Influencer Program: We’ve been hiring and managing micro-influencers for client campaigns around brand, lifestyle, and events for a while now. But we recently realized that the talented content creators we work with could form the basis of our own managed influencer program. By leveraging these existing relationships and tapping into our team’s expertise, we’ve built a new revenue stream that combines creative content with direct customer engagement.
? AI-Driven Stock Photography and the TOP SECRET SaaS Solution: Over the past 10+ years, we’ve captured thousands of product photography images, many of which were gathering digital dust. We’re now feeding these images into an AI model that produces stock photography. And more importantly, this image database is a core element of a TOP SECRET SaaS solution set to launch in 2025. This project not only monetizes existing assets but could reshape how businesses approach creative content altogether.
The Financial and Strategic Impact
Turning byproducts into products has been a game changer for us. It’s not just about squeezing extra revenue out of existing processes; it’s about finding new ways to diversify and build recurring revenue streams. Each of these byproducts is high-margin, low-overhead, and often creates an easier entry point for new customers. It’s the same lesson Uncle John taught me—sometimes the most valuable opportunities are already sitting on your “floor,” just waiting to be picked up and packaged.
What’s Your “Chum”?
The best part about byproducts is that they’re unique to every business. You’ve likely got some hidden gems in your own processes, tools, or deliverables that could be spun into a standalone offering. The question is: have you found them yet? We’d love to hear your stories and ideas in the comments—what’s your version of “chum,” and how are you making it work for you?
#ByproductsToProducts #HiddenRevenue #BusinessDiversification #ChumInspiration #IncrementalGrowth #SaaSInnovation #LeftCoastInnovations #MarketingAgencyLife #LifeOnTheLeftCoast
Speech Language Pathologist
3 个月Love this- Great perspective in looking for opportunities.