Page 239 - 597 Business Ideas You can Start from Home - doing what you LOVE! (Beginner Internet Marketing Series)

Step 1 2. Maintain a Life Balance and Look Ahead 233

Product Line Expansion

I f you're able to achieve a healthy workllife balance, you'll find that
you have time to plan for the future of your product or business.
Isn't that exciting7 Not only do you have a product; it has a future!

Consider how to expand your product into a line of products or
a variety of one specific product. For example, if you are launching
a new baby bottle, think about producing other baby-feeding prod­
ucts. You could also think about different designs, patterns, and
nuances for the one bottle.

As you expand your line and/or your business, you still need
continue to run a tight ship as far as employees, inventory,
cash flow in order to keep profit margin levels the same.

What's the point of getting more business if you are not
making more money? You will end u p working twice as hard
for half the money if you don't constantly re-evaluate the sys­
tems and production costs that you have in place. You can
expand your product line and/or customer accounts without
adding personnel or having to lease real office space. You
may need to have a bigger storage unit or upgrade your
software programs but bigger gross sales numbers do not
always translate to bigger margins if there are too many
other costs associated with the growth.

At Moisture jamzz, I began with one design of our Moisture
Gloves and then added more fabric designs so people would want
to own more than one pair of the same product . A few years into the
business, people asked, "What else do you do besides the gloves?"
The answer was "nothing." That got me thinking about expansion
ideas, and we now offer socks, gift baskets, and other items that
complement our original product.

The same thing will probably happen to you. Once your product
is doing well, your customers will ask if you have anything else and
larger retailers will want to display more than one lonely product.
Take advantage o f your brand's success and loyalty and continue