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Small Business: How do you identify market opportunities for diversification?
JP
JP
Joseph Peterson, Names, Domains, Sentences and Strategies answered:

Perhaps, rather than focusing on acquiring new customers in new areas, you ought to evaluate first what additional services your existing clientele pays (or might pay) others to perform.

If they come to you for writing but then go searching for something else, then perhaps you could efficiently offer them services in that other area.

That would be the low-hanging fruit.

You can reverse this pattern as well. What services have your writing clients ALREADY paid for by the time they come to you? If you were to begin offering services in that area, then any customer acquisitions could lead to follow-on services in your bread-and-butter field.

Services that precede or follow those you already offer would permit you to double what you offer without doubling the number of clients.

Nothing revolutionary in suggesting add-ons, of course. But thinking in those terms might help you prioritize options.

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