Expand Services Or Create Services?
Which are you?
Are you the antique red telephone booth? Or are you the blur of progress?
Grow or Die
Expansion of services is the hallmark of most successful businesses. "Grow or die" is the common mantra of many businesses. I too believe it's a good goal to have. Existing services and products become stale with time and the attractiveness of them diminishes, resulting in a slow, but progressive, death of a business if it is not constantly evolving.
Expand or Create?
Part of a businesses growth is the development of new and (hopefully) exciting new services or products. But with this development, there comes a new development that may be unanticipated. A fork in the road of growth, and one that provides new and unanticipated challenges. That decision point has at least two very different trajectories. Do you expand your services or products? Or do you create new services or products?
Expansion
Expansion of your services and products may come naturally and seem relatively easy. It is a good system for keeping your existing products and services in a "new" or "improved" light. But fundamentally they are your core products with new spins. It's the newest haircut or style. An improved car maintenance program. A new twist on the free checking account. Updating a rotary phone to a push button phone. A...