How do you decide to expand your business? How can you tell if the fit is right, and if this expansion really makes sense?
I talked with a potential entrepreneur yesterday. He is having trouble settling his business idea down to just one thing. With so many market opportunities available, he found his new business was swelling out of his reach. Deciding what to include and what to leave out can be tough!
At Decisive Flow (a New Zealand web design firm), they have just expanded, adding Small Business Marketing Tailored to Your Needs.
A lot of our customers don’t have marketing strategies. This has caused a few issues with web design as we struggle to see how we can deliver sites that generate new business when the base we are working on is non existant. So Decisive Flow have expanded our services.
Adding marketing services made sense in their case, because their current customers, small businesses, had a need for it, and no source. They also had the expertise already; no need to bring in additional experts or retrain themselves.
I think these are the best business expansions to consider:
- Customer driven
- Market niche tailored
- Take advantage of your existing skills in a new way
Rather than let yourself be pulled in a thousand different directions, make sure you pick products and services that group together naturally. Marketing and web design are closely related, a good match. The potential business owner I talked to yesterday was thinking about a whole raft of possible services. They were all related in one sense, but with radically different targets, and many different providers. The longer we talked, the more he talked himself into a narrower field, one of closely related targets.
Weigh each expansion carefully. It’s like a whole new business to launch. Be sure you give it the care it deserves.
- Metaverse business idea: virtual world tour guide - April 15, 2022
- Make extra money from extra workspace: co-working and 3rd workplaces in small towns - March 28, 2022
- Trade show booth design trend: hand drawn visuals - March 21, 2022
- New business sign design? Don’t use cursive script - February 14, 2022
- Way more people prefer rural than urban, new Pew Research study finds - February 1, 2022
- Top 5 Rural and small town trends 2022 - January 3, 2022
- How to start a real small small business - December 17, 2021
- Tip for better pop-ups and shed businesses - December 5, 2021
- Small town business idea: cat grooming - November 15, 2021
- Community engagement planning: old way vs. Idea Friendly way - October 3, 2021