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Forum nameBiz Ideas
Topic subjectRE: need ideas current business not so sucessful
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=4653&mesg_id=4654
4654, RE: need ideas current business not so sucessful
Posted by Pepperfire, Mon May-30-11 03:56 AM
Hi,

I like the way you are trying to figure out how to increase your bottom line.

I'm a little concerned that you are about to make a mistake that many businesses make, which is expanding outside your core expertise, but if the core expertise is the sale of a variety of products, then my concern may be moot.

For Fireworks, I would start with city hall, and you are probably going to have to have dealings with the Fire Marshall for sure.

For the animal feed, I would check with the FDA. I am unsure if they are in place yet, but there has been a lot of chatter over the last two years about regulations for animal feed to be put into place.

As for your core business and increasing your bottom line... My thoughts:

Examining your existing business and determining whether or not you are doing everything that is reasonably possible to increase your bottom line is a much less expensive and less risky affair than adding new product lines, especially if those lines require special regulations.

Often simply tapping your regular customers for referrals is a good way to increase your bottom line. Finding a way to tap new markets with your existing line is another cheap way.

The last thing you want to do is reinvent the wheel. More often than not it will be overly expensive and you'll end up splitting your goals and end up all over the place.

You might want to see if local Government has help for small business in the form of business coaching.

We have started a project with a local University, you might want to see if there is an opportunity there as well.

Hope these thoughts help.

I wish you luck.

Tina Brooks
Brooks Pepperfire Foods Inc.
http://www.peppermaster.com