Awards & Engraving

January '17

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A&E JANUARY 2017 • a-e-mag.com 35 Sales & Marketing It is easy to fall prey to the product lines that you are used to because you have sold them for so many years, but that can lead your company toward stag- nation. Instead look for external oppor- tunities. These can be direct offshoots of what you are doing now: rubber stamps for banks and businesses, signage and framing, and printing on apparel. Those are examples of logical extensions to the business you already conduct. If you want to get really creative, target other industries altogether and look for product opportunities where personal- ization could make sense. These exist all around us but are not as apparent. Explore your surroundings with pur- pose and intention and you can find them. Sometimes they can be right in front of you without your realizing it. IDENTIFYING YOUR CORE BUSINESS AND HOW FAR IT CAN TAKE YOU An important step in growing a busi- ness is identifying your core business, growing it to its maximum potential, and then knowing where that poten- tial is. Once you have grown the core as far as you can, then it is time to change the core in some kind of fundamental way. This can be tricky as it involves being absolutely sure that your core has reached its potential, and then deter- mining the direction of the new core. It is extremely crucial that you are correct about it. Most importantly you need to be sure that you have exhausted the revenue pool that you have with your standard product lines. Once you have done this, you have maximized your core, but only if you have not done so because of your ability to execute. This would identify an infrastructure shortcoming instead of an exhausted Get involved in editorial opportunities for A&E each month! Contact: Cassie Green 720.566.7278 cgreen@nbm.com Made in USA

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