Business

Chicago-Based Serial Entrepreneur Jonte Wells Explains the Importance of Having Multiple Revenue Streams

Published

3 years ago

October 14, 2021

The world today is far different than just a few years ago. Pandemic aside, the rapid changes occurring on a global basis are incredible. For many, the onset of the global pandemic led to disaster, failing businesses, and struggling to find a way forward. Yet, for other companies, and entrepreneurs, weathering this storm isn’t as challenging. That’s because they have multiple revenue streams, diversified enough to withstand virtually most types of ups and downs. Series entrepreneur Jonte Wells has worked hard to develop a path that enables him to not just withstand these challenges but to help others do the same.

The Value of Multiple Revenue Streams

Jonte has built several successful companies throughout his career. That includes Greater Purpose Athletics and Greater Purpose Management, the two focuses of his time now. Both revenue streams create opportunities to support each other and enable Jonte to build his success.

Why is this valuable, to have two revenue streams or more? There are several reasons. Jonte states, “I started in the inner city of Chicago with few opportunities to build success. I didn’t have access to supports facilities to support my growth. I knew then that I wanted to do more than just play basketball. I wanted to achieve success as an entrepreneur and then bring that success back to my community to support others.”

Having more than one revenue stream enables that type of aspiration to be possible. The pandemic may cause some businesses to struggle, such as how the restaurant industry was hit hard without access to customers during the pandemic. Yet, for grocers, it was a gold mine, as it was for those able to provide a digital service to their customers.

The same applies to young athletes who want to do well. “You can and should focus on building your skills on the court, but you also have to work on brand management on the side – because that’s going to help you to build more than one way to earn money.”

He continues, “What we are doing with Greater Purpose Management is providing those young superstars with the insights and support they need early on, the services I didn’t have so that they have a better chance of long-term success and growth.”

Jonte, known for his basketball career, and both Greater Purpose Athletics and Greater Purpose Management, is also in real estate. He’s created a successful portfolio of numerous properties and flips houses year-round. In addition to this, he also launched Sugaring NYC, an organic waxing studio.

It is the combination of each of these businesses that have allowed him to build a wealthy empire. Now, he’s empowered by being able to focus on helping others. That’s just what he is doing for athletes looking for a way into this industry.

What’s Holding Back Today’s Entrepreneurs?

Those who wish to open a business face more obstacles today than ever before. They are facing complications related to the pandemic itself, such as fewer routes into traditional business positions. For some, the cost of living and expenses of day-to-day life limit the reach of a potential entrepreneur. Even in a modern world, a person living in inner-city Chicago will find it challenging to find a way out, a way to build on an idea or skill that has true profitability.

With those barriers come others – the lack of access to support systems and mentorships being one. Without direction and support, it becomes difficult for any individual, regardless of where they live, to have a way forward.

Supporting the Young Business Owner

For Jonte Wells, the focus isn’t just on any person who wishes to build a business, but on the young athletes in inner-city Chicago and elsewhere that have skills and talent that they are not able to fully utilize to get them into a stronger future. For example, Jonte himself began his path towards serial entrepreneurship as a young athlete. He didn’t have access to a sports facility or a mentor to help him to get out onto the court and build up skill – and gain recognition for it. Today, he’s known as “the basketball guy” when he visits his clients, all of whom are young athletes who want to build a career in sports or fitness. These individuals come from some of the most challenging backgrounds, but they have skill, inspiration, and talent. His goal is to provide them with a way forward.

The Creation of Greater Purpose Management Hones in On Providing Opportunities

Jonte’s latest business is Greater Purpose Management. It’s designed to support those who need it the most in a positive and motivating manner. It’s not simply about finding a way into the sports world through the NCAA or professional basketball, though. He works directly with young athletes to help them to find their passion and builds their skills to build a brand and image from that point.

He says, “We work with athletes to ensure their on-court performance is the best. Then, we give them the ability to brand themselves so they can not only succeed on the court but also in numerous opportunities off the court.” Having multiple streams of revenue enables these individuals to gain confidence no matter what happens in their future.

He says, “We are very hands-on in our talent management. We treat each person like family, not just at the gym. We support them with what they need from athlete management services to working as a marketing agency to help them to build themselves on social media and digitally, creating opportunities for their future.”

Jonte didn’t have a simple path towards success as a young athlete trying to make his way in Chicago. Yet, he has worked hard to build a business model that provides numerous revenue streams for him, allowing him to not only find success for himself but to be able to give back to the community as well.

Speaking of Greater Purpose Management, Jonte says, “We make sure you’re educated regarding your financial assets, legal rights, and post-career options. We empower you with that knowledge to achieve multiple revenue streams, creating opportunities for your future long after you leave the court.”

Want to Learn More?

Connect with Jonte Wells on Instagram or find out more about Greater Purpose Management today.

Business

Jellyfish Pictures Suspension Reveals Outsourcing Opportunity, Says BruntWork

Published

2 days ago

March 16, 2025

Matthew Wiles

Jellyfish Pictures, a well-known UK visual effects studio, has temporarily shut down due to financial struggles. The company, recognized for its work on major films and streaming projects, is searching for buyers or investors while halting all ongoing work. This situation has raised concerns across the visual effects industry, which is already dealing with economic pressures, labor disputes, and production changes. BruntWork, one of the top outsourcing companies, sees this as an opportunity for companies to reassess how they operate and how outsourcing can help VFX studios lower costs and stay financially stable.

A Leading Studio Brought to a Standstill

Jellyfish Pictures started as a small operation in 2001 and became a respected name in visual effects. With multiple offices in London and a portfolio of high-profile projects, the studio built a strong reputation. However, rising costs and growing competition from lower-cost studios made it harder to stay profitable. Financial pressure mounted, forcing the company to suspend operations.

Clients relying on Jellyfish Pictures are now left searching for alternative vendors to complete their projects. The suspension has also put hundreds of employees in a difficult position, leaving them uncertain about their future. Company leaders have stated they are looking into all possible options, including selling the business or bringing in outside investors.

Why VFX Studios Are Struggling

Visual effects companies have long worked with tight profit margins. The financial setbacks caused by the COVID-19 pandemic made things even tougher. Many VFX studios kept projects moving remotely but struggled with delayed payments and cancellations. In 2023, the global VFX industry was valued at $11.3 billion, but continued production delays and tighter budgets are making it difficult for companies to grow.

The writers’ and actors’ strikes in 2023 added more complications. With productions on hold, many VFX studios found themselves with fewer projects in the pipeline. A recent industry survey found that 72% of VFX companies faced financial struggles due to the combined effects of the pandemic and the strikes. Mid-sized studios with high fixed costs, like Jellyfish Pictures, have been hit the hardest.

Winston Ong, CEO of BruntWork, believes this situation exposes weaknesses in traditional business models. “Studios operating in expensive cities like London face overwhelming costs that outsourcing could help reduce,” he says.

The Role of Outsourcing in Keeping VFX Studios Afloat

Some experts believe outsourcing can help visual effects companies manage financial risk. According to Ong, studios that rely entirely on in-house teams in high-cost cities struggle to keep expenses under control, while those that blend in-house work with outsourcing can operate more efficiently.

The shift to remote work during the pandemic showed that collaboration across different locations is possible. Data from outsourcing firms suggests that studios using a mix of in-house creative direction and outsourced production can lower expenses by 40-60% without sacrificing quality. Some companies have already moved in this direction, allowing them to stay competitive without driving up costs.

Beyond production outsourcing, some VFX studios are also exploring ways to streamline marketing efforts. Hiring a digital marketing virtual assistant allows companies to manage campaigns, social media, and client outreach more efficiently. This helps studios maintain a strong industry presence without the overhead costs of full-time marketing teams.

Still, outsourcing comes with potential risks. Some industry veterans warn that relying too much on external teams can lead to quality issues and production delays. Studios must find the right balance between saving money and maintaining the level of quality audiences expect from high-end visual effects.

What Comes Next for Visual Effects?

Jellyfish Pictures’ troubles have sparked discussions about how VFX studios can stay in business. More flexible production models, outsourcing, and smarter budgeting could become the standard technique. Advances in technology continue to make remote collaboration smoother, allowing studios to complete projects without keeping all operations in expensive locations.

“This reflects a larger problem across the industry,” says Ong. Studios that adjust their operations and use outsourcing effectively may be better prepared for economic swings. Companies that maintain strong creative leadership while using global production teams seem to have an advantage.

For many, this also extends to marketing. Some of the most successful VFX firms are those that recognize the benefits of outsourcing digital marketing to specialists who can handle branding, social media, and client engagement without the high costs of in-house teams. This allows studios to maintain visibility and credibility even in uncertain market conditions.

Larger firms may continue to acquire struggling studios, but smaller businesses that improve their financial strategies could stay independent. The challenge is finding a way to keep artistic vision intact while managing expenses.

Moving Toward Stability

Jellyfish Pictures’ shutdown is a warning for the visual effects industry. High operating costs and unpredictable changes in production schedules show why studios need flexible business strategies. Some will turn to outsourcing, while others may merge with larger firms or adopt hybrid models to stay competitive.

For mid-sized studios, financial stability must be a priority without sacrificing creativity. The next few years could bring more studio buyouts, with bigger companies taking over smaller ones. However, independent studios that adjust how they work could still succeed by reducing costs without lowering the quality of their output.

“Adaptability is what matters. Studios that adjust their structures and use global talent wisely will be the ones that remain strong in this industry, ” Ong concludes.