Our business's service is becoming obsolete--where do we go from here?
We are a bookbindery that's been in business for over 30 years, but more and more of our customers are putting in their own machinery so they don't have to out source the work. So we're trying to think of any other type of service we can provide to either our present customers or new customers. What is the best way to begin this process?Great question and one that allows you so much freedom.
To take the next step in a new direction, take a moment to think about the following:
1. Can you sell the existing clients you have or business you run to a bigger competitor so you at least take some form of win from all the years of work?
2. Can you sell them the equipment that you mention they are buying now?
3. What are the top 5 things all of your clients have in common that they buy now?
4. What are 5 products or services you really are passionate about that they might be wanting to buy?
5. What are 5 things the local market needs that they are finding hard to buy right now?
No matter what, you'll have to investigate what opportunities such a situation gives you.