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.
- New delivery options
- Physical delivery & pick-up
For example, a personal trainer could offer instructions over a video conferencing.
- Preferred customer service
- Premium versions of offerings
- Add-on products/services
- Bundled packages
A high-end dry cleaner could partner with a stylist to offer premium image services.
- Budget versions of current offerings
- Do-it-yourself offerings
- Cut back services
- Strip away extras
- Create trial version
A consultant could offer quick email answers as a cheap alternative to full service.
- Productize services
- Create webinars, workshops, books, and other info products
- Use technology to automate services
What if a caterer offered freshly cooked, quickly frozen weekly dinner packages?
- Strategic Alliances
- Affiliate sales (inbound & out)
- Bundling your products with someone else’s
A chiropractor could team up with an acupuncturist to offer pain relief services.