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Should I work on increasing sales of my existing products or start a new business?

Discussion in 'General Marketing' started by aab1, May 17, 2012.

  1. #1
    I want to increase my income and would like to know if I should work on increasing sales of my existing products or start a new business.

    My best selling products are a software program to snipe eBay auctions and a refill solution concentrate to refill Braun self cleaning shaver cartridges for a fraction of the price. I also sell a health info/recipe book but it's a very small part of my income and I'm also slowly starting to get into making and selling soap.

    Do you think I should work on increasing the sales of the products I currently sell or should I start an additional business and if so what?

    Thank you
     
    aab1, May 17, 2012 IP
  2. MobileInternet

    MobileInternet Active Member

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    #2
    Look into creating mobile websites for businesses.... It is predicted that by 2013, more people will be accessing the web from a mobile phone than from a PC. So now is a great time to get involved, as 85% of businesses don't have a mobile website.

    www.mobileinternetbiz.com
     
    MobileInternet, May 18, 2012 IP
  3. briantymes

    briantymes Peon

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    #3
    If you have the time, you should work on increasing your current business, and start up another business. The more income streams you have comming in, the more money you will end up making in the long run.
     
    briantymes, May 18, 2012 IP
  4. tanlinda

    tanlinda Peon

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    #4
    Yes, I agree the above friend, If you have the time, you should work on increasing your current business, and start up another business.
     
    tanlinda, May 18, 2012 IP
  5. Ayansarei

    Ayansarei Peon

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    #5
    See, In this scenario I'll suggest you must keep up your existing business with new look. More concentrate to your online marketing presence activities.
     
    Ayansarei, May 18, 2012 IP
  6. traxport121

    traxport121 Active Member

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    #6
    I suggest that instead of starting a new business, continue to boost up your present one. It'll take quite a bit of time to get the new business running smooth, and by that time, you'll gain nothing. Everything depends on what you think - does your present business have potential to grow? If not then go for a new business. Otherwise, stick to what you've got already.
     
    traxport121, May 18, 2012 IP
  7. GradeAMoney

    GradeAMoney Peon

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    #7
    Spend 70% of your time focusing on what's working (and making you money) and 30% on new ventures or ideas.
     
    GradeAMoney, May 18, 2012 IP
  8. kelvindavid222

    kelvindavid222 Peon

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    #8
    Upgrade your existing business while thinking of ideas for your new business. When you finish with the ugrade, now focus on setting up your new business. This will increase your income in the long run. Kelvin David
     
    Last edited: May 19, 2012
    kelvindavid222, May 19, 2012 IP
  9. Gary Ling

    Gary Ling Peon

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    #9
    As Ebay is still the biggest online shopping website, i don't think its going anyway. So you can still work on selling more of your software.

    For starting a new business, you will have to do some market research first before you venture into anything which you do not know, aab1.
     
    Gary Ling, May 19, 2012 IP
  10. lifeplayer

    lifeplayer Notable Member

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    #10
    It depends on how big your confident about your "new product", if you have big confident that the new product can generate good income to you compare to the software program, then go ahead to the new product. Otherwise, just focus on increase the sales
     
    lifeplayer, May 19, 2012 IP
  11. ninjamtlt1

    ninjamtlt1 Active Member

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    #11
    Focus on scaling what ur already doing, in other words, try to sell more of your existing products. People jump around too much. Good luck! :)
     
    ninjamtlt1, May 19, 2012 IP
  12. wiseguy212

    wiseguy212 Active Member

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    #12
    EXPLODE YOUR PRODUCT SALES!

    Sales down? Put the marketing muscle of our over 100,000 members to work for you, promoting and selling your products. Sell your products worldwide. FREE to list.

    http://www.tripleclicks.com/11598906/ECA
     
    wiseguy212, May 20, 2012 IP
  13. uoftenwinny

    uoftenwinny Peon

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    #13
    Promote your business on blog.
    and post quality backlinks ,it's best if the contents are original. it helps a lot for ranking and record.
     
    uoftenwinny, May 21, 2012 IP