Its been a great week for ELC Innovations, even as thunderstorms rumble past late Friday afternoon. As a company we have grown beyond one of my first monthly revenue goals in the second half of 2010. With just under a week to go for the month of August, the monthly goal has been met, and most of it came from completely new revenue streams.

So, why am I bothering everyone with such a small accomplishment? There are a few reasons.

Entering Phase Two

Today, I can see ELC Innovations ready to take off into its second phase of development. Many people have an idea for a business, some even start one up, but not a high percentage get it past the first stage of concept. Today, I can say that I have proven to myself, and maybe to my business manager, that ELC Innovations is a viable business model, and is now solidly into its second phase of development.

We have expanded the scope of what jobs ELC Innovations will take on, and are finding a lot of traction in doing contract writing work, finding that there is a good demand for quality in-home technical support and that there may be even more contract opportunities out there for my type of business than I previously thought.

The success brings a good mood

This glimpse of what could be definitely puts me in good spirits, good enough that it could benefit you, or your friends, clients and contacts. I have always been looking for new opportunities, but today I would like to extend some great offers to build new projects – web sites, print design, marketing or writing. If you or someone you know has something they have had in their mind for a while, drop me a note, I would love to talk and see what we can work out.

Its a lesson for all business ventures

I have to be honest. A year ago – even a month ago – I did not see contract writing as a potential revenue stream. I knew I enjoyed the technical writing that I did for this site, and I have always enjoyed research driven writing. But, never did I think that it could be a good base of revenue for my consulting company. Even better than that, it has helped me build contacts for other work I can do.

What I would like everyone who reads this piece Friday afternoon to do, is think about what business you are in, or starting. Take note of where your revenue comes from. Then think about what you do every day to generate that revenue. Is there any part of your work that you could, and would enjoy doing separate from the larger projects? If there are, I bet you can find a way to create a new revenue stream. It would be similar to a manufacturer that creates a widget, and in the creation of the widget they get a pile of scrap. What happens if someone at that company found another company that needed the pieces and parts from your scrap to produce their product. Now, that manufacturer can not only focus on their core widget business, but can also make money from selling their left-over scrap. Find your scrap market, and I bet you find some more bucks.

It was only a matter of time before social networking giant Facebook came out with an answer to foursquare, the most popular – up until now – way for you to share with contacts and friends where you were, and places you liked. Tonight, Facebook launched their Places feature. There are some out there that may be excited, but count me as one that is not.

You can't say I didn't call it, because I did. Not even a week ago, I wrote about how the Torch was such a departure from what RIM normally produces that it would suffer in the marketplace. Here is your evidence.

Earlier this week Research In Motion – makers of the still-popular with the corporate crowd Blackberry – announced, along with AT&T their newest phone, the Black Berry Torch.

There are plenty of reviews on the Torch, some like it, some don’t, but what is clear to me is that RIM is coming to the other side of the fence, and trying to make a consumer-focused device that is more Android or iPhone than it is Blackberry.

My first thoughts on this are that this could be the beginning of RIM’s slow decline. I don’t believe that they are in any immediate danger of winking out of existence, but lets face it – Blackberry’s carry a stigma of being a work phone, not a phone for fun and apps. The Torch is trying to break away from being all business, and I think what RIM has on their hands is the equivalent of the tech mullet – party in the front; business in the back. Sure that works if you wear jorts, but I am not so sure Joe-hipster is going to be seen rockin’ the torch.

RIM needs to focus more on shoring-up their corporate business. Stop the ever-increasing flow of corporate users away from their Blackberry and to the iPhone and Android.

Unless they are planning on changing the heart and soul of their company, RIM needs to stay focused on their bread-and-butter. Don’t forget your roots, and what still pays the bills.