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 For any small business, this is advice that should be taken seriously--especially with the speed of change, in this digital age.  Hollywood Video and Blockbuster put all their eggs in the local video rental business.

You don’t want that to happen to your small business. The answer is diversification, but it’s an answer that is much more easily offered than implemented. You need to strap the thinking cap on tightly and tap the most creative minds in your small business. Here are some seeds for your brain storms.

 Inside the Camp – traditionally companies look for opportunities inside their current business and market area.  Outside the Camp – When do you move to opportunities outside the traditional business, but within the market area.

Are there products that go along with what you sell or that your customers purchase from others? If so, adapt and tweak your product to include a service so it appeals to a new targeted group of users. Bundle features that will make your service more appealing to a group of consumers.

Are technological changes beginning to erode your base? Find out what’s next, don’t be the last to sense where things are going.  VOIP Business Services  OTT Video Services Devote part of your business to meeting the needs of the “early adopters,” and then you’ll be ready if a major shift occurs.

Are there products or services that go along with what you do? Can we do more? Perhaps the local electrician in your small town is approaching retirement age? If the service closes, who is going to fill that need. Can you add electrical maintenance installation and support services, Backup Generators, Solar Panels, yes Solar Panels?Solar Panels Integra Solutions

This might be anything: training, cloud services, apps, additional gear, monitoring, servicing-;the possibilities are endless. Farm tractors and implements feature highly advanced instruments, but many farmers only use a small portion of the capabilities in the cab. Is there a new niche in providing ongoing training and support for AG equipment along with your Smart Farm broadband service products.

The most aggressive version of this strategy is to buy a company that provides services related to yours. If you can swing it, this can be a very smart move, if you diversify your lineup and remove a potential competitor from the playing field.

Over $100 million dollars earned by home and repair businesses using Square.  Accept credit cards, send invoices, and run your home and repair service from your smartphone or iPad. On-site repair, or any other service—  Square can help you simplify your accounting, manage your whole team, and get you paid right away.  If you don’t offer your products over the Internet, add an e-commerce element to your website. If you already sell online, sell online more.

If your physical location has been there for years, remodel to get a new more modern look at your location.new more modern look If you have one physical location, consider opening a second. Make yourself relevant to your customers!