Similarly, Apple pulled off this strategy when it introduced the i Pod.What made the i Pod such a breakthrough product was that it could be sold alone, independent of an Apple computer, but, at the same time, it also helped expose more new customers to the computers Apple offered.
An even more microscopic group, just 0.036 percent, will reach $1 billion in annual sales.
In other words, most businesses start small and stay there.
Developing a Growth Strategy: Intensive Growth Part of getting from A to B, then, is to put together a growth strategy that, Mc Farland says, "brings you the most results from the least amount of risk and effort." Growth strategies resemble a kind of ladder, where lower-level rungs present less risk but maybe less quick-growth impact.
The bottom line for small businesses, especially start-ups, is to focus on those strategies that are at the lowest rungs of the ladder and then gradually move your way up as needed.
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Developing A Small Business Plan Instructional Technology Dissertation
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They are: The least risky growth strategy for any business is to simply sell more of its current product to its current customers-;a strategy perfected by large consumer goods companies, says Mc Farland.
Think of how you might buy a six-pack of beverages, then a 12-pack, and then a case.