YOU CAN DO ANYTHING, BUT….

Anytime you add a service to your business, you are adding complexity. Business owners are inherently willing to accept a new challenge. Inspired by the opportunity to expand streams of revenue or simply because we are looking for a new challenge. Sure, you can do anything you put your mind to, but you can’t do everything at the same time. Just because you are making good money with service “A” doesn’t mean you can add service “B” and repeat. You may wind up simply just taking away revenue from “A” which has gotten you to where you are now, and you’re just funneling money and time into service B trying to make it work. You may get the money back, but never the time.

You might even recall the struggles you had in the early day’s of starting your business which may seem comforting and familiar, so you think you’re on the right track. Yes flexibility allows for opportunity but if we don’t fully understand what makes service A so profitable or desirable to our customers, service B will just create undue complexity and potential losses that could negatively affect the part of the business that got us to where we are today. Many times owners tend to view short term gains as a symbol of long term success. This most often is not the case.

Optimizing a single revenue stream and maximizing it’s profitability should be your number one priority. You want to be sure you can make money during a busy time and not have to give it back during the slow times. You would be better suited to repeat the process of service A through growth or expansion, maybe hire a sales person to help increase your sales in service A so you can expand there reliably before you start to look at new revenue opportunities.

Your greatest opportunity for success may be where you are right now.