STAYING FOCUSED, USING LEVERAGE

In business, there is a key distinction between vertical
integration and horizontal sprawl. The strongest companies
understand the process of adding value by expanding their
service to existing customers.
Satisfied customers almost always WANT to do more business
with you. Isn't that true in your own case? Once you find
a store you enjoy, don't you go back over and over again?
Once you establish a relationship with an accountant,
attorney, doctor, dentist or other professional, don't you
"automatically" go back every time?
Highly successful professionals use this pattern to their
advantage.
Chiropractors add products like supplements or exercise
equipment. They may contract with massage therapists,
physical therapists, nutritionists or other professionals
to leverage the relationship with their patients.
The Veterinarian we've used for years has gradually
expanded to offer grooming services, training and kennel
services. They sell dog food, toys and can even help you
locate the next family pet. One stop shopping, multiple
sources of profit, improved customer loyalty. What a
concept!
Many professionals mistakenly attempt to diversify into
markets they do not understand or that are a poor match for
their primary skills. They get spread too thin, and each
business has to be created, funded and built individually,
and that is hard work!
Instead, look for the logical, natural links that allow you
to expand the relationships you already have, provide
greater service and do more business with current
customers. It's usually easier, more fun, and more
profitable.