Go Deeper or Wider to Grow

Have you reached a sales plateau?  Looking for new ways to grow?  Explore your customer base, your competitors, run the numbers and look at your cash flow.  In a recent post by guru Seth Godin, he  reminds us that to grow, you need to do something different.  He recommends going wider – add items to your mix to attrach additional buyers.  For example, you could add adjacent products.   Perhaps you sell flowers – you can add cards and gifts.  

Or go deeper so your buyers know that you have the best selection in a specific area.   In this case, you might actually eliminate some of your items on the fringe to go deeper in a certain area.  (The idea here is that you need to free up cash to fund products / services that help you go deeper. )  Examples might be: expert in video games or certain technology.   For the flower shop –  sell or have access to every rose available in the world – making you an expert in roses.

Whatever you select – make sure you have the cash flow for your model.

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