Close the Expansion Gap

When speaking with business owners, the most common growth issue I’ve traditionally heard is one of lead generation. When digging deeper and discussing the findings of the Growth Gap Self Assessment, what I often find is that they also have an Expansion Gap problem. While finding new customers is important to growth, continuing to offer solutions to existing customers is not only easier, is much less costly.

If you’ve heard me speak, you know I preach focus, focus, focus. So I will say here it’s not about just adding products or services. It’s about adding the RIGHT products or services - ones that will further solve your customer’s problem. If you’re solving an issue of entertainment, offering a steam cleaner isn’t the right option.

And perhaps most importantly, make sure you can deliver the same level of service with those new products or services.

In our first article below, Mark Walker explains how to use questioning to uncover new opportunities. Zahir Palanpur follows up his “Meet the eXpert” presentation in October with a timely article on the use of innovation. Stone Payton’s unique writing style is on display in our third article. And finally, Don Rigby writes on the appropriate use of nurture marketing.

Steven Winokur, Turning Point Strategies

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