5 Breakout Ideas for Small Businesses

1. Add Complementary Products and Services

A great way to increase sales and bring new customers to your sales base is adding new complementary products and services. But how do you decide what to add without knowing what they really want. A simple way to build a list of new products or services is to ask your customers what else they might buy from you if your business sold it.

2. Explore New Market Niches

One way to find a new market niche is to seek alternative applications for your existing products and services.

3. Find an Unmet Need in your Industry and Fill It

When you talk to your customers and clients, listen closely for this phrase: “If only they made/sold X”. Your job as a business is to find out what X is and provide it.

4.Use Internet and Catalog Sales Tools

Be aware that the internet has more to offer than photos of pets dressed up like humans or humans dressed up like pets. Many small businesses limit their sales reach and distribution to on-site, over-the-counter sales, but ecommerce can enhance your market reach, customer base and sales volume.

5. Let Others Sell Your ate-Label Products Private-Label Products

By allowing distributors, wholesalers, big box stores and competitors to sell your products under their own label you may be able to realize the benefits of increased production volume, including reduced unit cost, increased fixed-cost and increased sales revenue, all of which can bring significant bottom line growth to a small business.