There’s a double-monetisation wave which appears to be sweeping through all industries in existence these days, from the street vendor selling coconut candy in Sao Paulo, Brazil to the top economic expert who either forms part of a team that operates a hedge fund or has decided to put their money where their mouth is and take some trading positions on the stock market. This double-monetisation wave is exactly what it says on the tin, in that whatever economic activity people engage in they find a way to monetise it more than once.
That’s what it comes down to really – documentation. The most extreme case of double-monetisation comes in the form of filming a reality television series where the show itself generates its “stars” some money in addition to whatever primary business activity they’re engaged in. So if someone buys from that Brazilian street vendor I alluded to earlier and completes their payment via wireless credit card terminal, that’s their primary way of making money and if they were to be featured on a reality TV series, the royalties or sales associated with the reality show documenting their day-to-day exploits would be the monetisation double-up.
Pretty much anyone who does anything really can put into place this sort of double-monetisation mechanism and it can be as informal as having your own blog where you publish some reality TV-type videos of how you go about your business, or even a YouTube channel.
Taking it a Step Further
As usual, the true entrepreneur would not pass up on this great opportunity to provide this double-monetisation service for others, which is how shows such as those which feature business consultants were born – you know, those shows where someone is roped in to steer the featured business into a better course, like perhaps saving it from failure or helping its owners bump up their profits? These consultants not only introduce operational enhancements into these troubled businesses such as adding the services of the likes of www.MerchantAccountSolutions.com to perhaps have them better collect payments from more of their customers, but they also document the whole process, wrap it up into a TV show and effectively monetise the operation in more ways than one.