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Expanding your business is easier than you might think. But it takes thought and planning ahead. You can expand further into something you already do, or you can take off in a different direction.
Whatever you do, do it with your eyes firmly on the marketplace. Only if there's a market for your planned products/services can you hope to succeed.
Example: Jackie is a trained and certified nutritionist. She has been trying to establish her business, but attracting paying customers has proved difficult. She gives talks at health food stores, supermarkets and seniors groups. When she decided to begin concentrating on weight reduction, business picked up. She devised programs for adults and children. This attracted more attention in the marketplace--particularly on her Facebook page. Her solid background in nutrition gave her credibility in devising healthy eating habits. Her seminars filled up, and soon she rented space of her own. It didn't stop there. She partnered with a hypnotist and together they created more programs to help people lose weight.
Example: Lisette was running a traditional gift shop. Sales declined over time, and she decided to make a change. She began contacting artists and artisans, arranging to carry their works on a consignment arrangement. She began posting these on Facebook and other social media--hand-made jewelry, clothing accessories, stained glass pieces, unusual objects in wood and iron. Gradually, the word spread, attracting a higher-end clientele. Lisette's gift shop is now expanding.
Example: Bill runs a fancy cake bakery. His specialties have attracted attention from a wide area. Everybody seems to know and has marveled at Bill's creations. He has made cakes in the shape of party-goers' homes. Once he made a cake for a guitar player's birthday--the guy didn't know which instrument to play. Then there was a wedding cake--two heads kissing. Bill wanted to grow, and he took note of the marketplace interest in healthy eating. He expanded into a line of cakes containing no gluten, others had no sugar, and some had no eggs or other animal products. His reputation increased in the other market segments he had ignored.
Expanding your business--no matter what it is--can be as simple as looking for market trends. Do this by watching television or trolling the Internet. The trends developing in the marketplace are there.
Additional examples are scattered throughout these write-ups. Look for ideas you might use, or they can trigger your imagination. Markets are always changing. Keep up.
