Expanding Your Business

The book graphics tool company
I’ve been using
has now ‘expanded’
their offerings
to author services.

They haven’t updated
their available graphics
for three months.

They’re ignoring
their core business
to focus on the other offerings
and that is reducing
value for their existing customers.

I likely won’t renew
my subscription with them.

I’ll move
to a dedicated graphics company
or buy software and stock images
and do it all myself.

If you want to retain
your customer base,
don’t focus
100% of your energy
on new products/services.

Allocate some resources
to your original products/services.

What Is Your Limited Resource?

In my Romance Novel business,
my most limited resource
is
my time.

I outsource almost everything
except the writing.
I COULD outsource that also
but I prefer to own that completely.

(One of the reasons
I started the Romance Novel business
was to bring MY stories
to life.)

My product development
and my business’ growth
is limited by the time
I’m willing to allocate
to the business.

ALL of our businesses
have limitations.

And as
Seth Godin
shares

“Finding the one thing
that is at the heart
of your value/scarcity matrix
makes it much easier
to focus your energy
on strategic decisions.”

I know, for example,
I can’t grow my business
in a certain direction
if implementing that strategy
will utilize a lot of my time.
I don’t have that time
to allocate.

Determine your most limited resource
and then figure out
how to grow
using as little of it
as possible.