Five Smart Ways to Repurpose Your Products and Services

We often get into business for ourselves because we realize that others need a product or service we’re knowledgeable about.  However, once caught up in the day-to-day operations of our business, we rarely take the time to re-think how we are offering our goods and services.  Here some ideas that can quickly and inexpensively expand your product mix, thereby increasing profit opportunities.

1. New delivery options
   1. Digital
   2. Phone
   3. Physical delivery & pick-up
   4. Mail

For example, a personal trainer could offer instructions over a video conferencing.

2. Upgrades
   1. Preferred customer service
   2. Premium versions of offerings
   3. Add-on products/services
   4. Bundled packages

A high-end dry cleaner could partner with a stylist to offer premium image services.

3. Budget versions of current offerings
   1. Do-it-yourself offerings
   2. Cut back services
   3. Strip away extras
   4. Create trial version

A consultant could offer quick email answers as a cheap alternative to full service.

4. Productize services
   1. Create webinars, workshops, books, and other info products
   2. Use technology to automate services

What if a caterer offered freshly cooked, quickly frozen weekly dinner packages?

5. Strategic Alliances
   1. Affiliate sales (inbound & out)
   2. Bundling your products with someone else’s

A chiropractor could team up with an acupuncturist to offer pain relief services.