Branching Out to New Markets See what your business is capable of by expanding to new industries.

Don't limit your customer base; explore all the industries that could possibly use your product or service. That's exactly what Neil Wadhawan did when he co-founded Heartwood Studios with Raj Raheja. Wadhawan, 25, was a student at Northeastern University when he met Raheja, 32, through a family connection. Together they developed a company to produce 3-D renderings and animations for architects and designers. "We knew [3-D animation] was a necessary tool. Being able to visualize something before it's built is powerful," says Wadhawan.

After starting the business in 2002, Wadhawan and Raheja realized that their 3-D animations could be vital to more than just architects and started looking for other industries in which they could put their services to use. They began serving clients in the defense and aerospace industries, and they've even branched out into the sports world with stadium animations for the Dallas Cowboys and New Jersey Nets.