As an entrepreneur, you always need to be on the lookout for ways to expand your current business, and always on the lookout for your next big thing. The competition never stands still, and new opportunities are evolving, based on culture changes in your customers, new technologies, and new problems in the world which need to be solved.
Steven Schussler, in his new book “It’s a Jungle In There” characterized this well in relation to his own success by recommending to all entrepreneurs that you observe the world around you and make a consistent, conscious effort to ask yourself: “Is there something here I could change (by providing a service or product) that would bring me financial gain?”
He provides several examples of how he used this approach to advantage in his own career. I’ve netted out his and others to create the following basic strategy for entrepreneurial growth:
- Apply your core competency to related markets. Look for competitors that have the same capabilities as you in a different market area, or for different customers. By utilizing economies of scale, location, and common design, you may be able to provide a better solution faster for a lower cost.
To read the full, original article click on this link: Startup Professionals Musings: Ten Ways for an Entrepreneur to Expand His Reach
Author: Martin Zwilling
