Best Practices for Growing Cash Flow With Zero Business Development Here's how to develop your authority and improve your profits.

By Carlos Gil

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

If you're a startup founder, recently became an entrepreneur or content creator that has yet found a way to monetize your business don't despair, there are multiple ways to generate cash flow with little or even zero business development.

Recently, I caught up with Mark Schaefer, a globally-recognized keynote speaker, educator, business consultant and author of multiple best-selling marketing books including the best-selling book on Twitter in the world ("The Tao of Twitter"). Curious about a blog post titled "How I make money: My 18 sources of online revenue" written by Mark which led to a candid discussion to serve as advice and inspiration to those just getting started.

Surprisingly, Mark who has worked with Fortune 500 clients including Microsoft, Cisco, and IBM proclaimed to have been able to grow his business virtually with no business development and in the video below explains how you can too although Mark suggests that patience goes a long way too.

Despite not doing traditional business development in the form of cold calling, Mark, in fact, monetizes his business through what he refers to as "authority," or being viewed as an industry expert through his own blog and social media content which he says creates an emotional connection with potential clients. Aside from speaking on the topic of cash flow, Mark suggests that mentorship is critical and makes it a priority to devote 10 percent of his time mentoring others as a way to pay it forward.

Watch above for the complete interview with Mark Schaefer.

Carlos Gil

Author of The End of Marketing

Carlos Gil is the author of The End of Marketing: Humanizing Your Brand in the Age of Social Media and AI, an international keynote speaker, and award-winning digital storyteller with over a decade of experience leading social media strategy for global brands including LinkedIn.

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