My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

On the Road to Expansion

4 tips to help you do it right
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Looking to expand your business without necessarily building up and out? Try going around...and follow these four important tips while seeking that different niche:

  1. Retool your product or service to meet the needs of your new target audience by focusing on the product and service variations your company might offer.
  2. Research potential markets, looking at everything from the size of each market to the buying preferences and expectations of the target audience to potential new competitors.
  3. Develop your strategy with a marketing plan, including the message points and media you plan to use to support your entry into the new arena.
  4. Test the waters by approaching focus groups or test-marketing to a small segment of your new target audience via direct mail, before plunging ahead.

Excerpted from Entrepreneur magazine, June 2001