if you have started a business i am guessing that you would like it to be a success. i would bet you would like it to grow it into something that makes you more money – perhaps so you can quit your day job, or justify not going back to your old job, or to support your family better, or whatever your goal may be. and maybe you would like one day to not have to work on it 24/7, to be able to let the business run itself while you enjoy some time at the beach (or whatever your pleasure. my happy place is the beach so let’s go with that.)
what is your plan to grow your biz?
if you are like most business builders your immediate goal is probably to gain more customers, to make more sales. so what comes next? you’ll need to make more of your thing or spend more time providing your service. and maybe things will really take off and the cycle will just continue! yay!
but the thing you need to consider, whether you are a service provider or you make handmade products or you source products or you do the majority of the work that goes into delivering your products, there is a limit to the amount work you can do. there will come a point when you cannot possibly make more, offer more, produce more or source more. (well not if you want to stay sane & get sleep.)
one way to grow your business is to add new products to your business. the smart way to add new products is to think outside the box and find things that will allow your business to grow without costing you more time in the long run.
you need to look at:
- creating multiple streams of income
- adding passive income
- modifying existing products & services
- widening and lengthening your niche
- expanding into new niches
- offering services and products and information
like most business owners, your product was probably the catalyst for starting your business. you had a great idea that you knew people would love! but that initial product alone is probably not enough to drive your business to the state of success and profit that you are longing for.
it is time to think outside the box, to branch out from your first ‘cornerstone’ product and to think about what you can do to grow your business. planning now for growth will allow you to start putting strategies into place for adding new products and new income streams to your business down the line.
and maybe picture yourself on that beach. we can all use a big goal to keep us motivated =)