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Make more products for your customers

Most businesses focus on getting new customers for their products. If they want to expand, they create new products to reach an even wider audience. The opposite approach can be quite profitable as well.

Instead of looking for new customers in or outside your current market, find new products you can sell to your existing customers. These are the people who are already paying you and are most likely to pay you again.

According to 80/20 Sales & Marketing, you should be making the majority of your profits from a minority of your customers. Is your business designed in a way to make this possible?

If you don’t have a way for your best customers to pay you more, you’ve artificially capped your growth. Gather feedback on other problems you can solve for them and then create new solutions. And consider decreasing your billing cycles too.