How to grow
There are really only 2 ways to grow which do not involve simply getting more customers in the same product. And they are as follows:
1. Existing products, new geography
2. Existing customers, product extensions
For some reason the natural instinct of most people on business is to take the second option. Which always results on increased complexity, and only sometimes results on increased profits.
We are better off to take the first growth option. Expanding what we already do on a new market, geography, or even usage occassion. Yellow Pages have just done this with their ‘car edition’ as can be seem in the photo below.
But I can’t help but think they’d be better off with a local iPhone app or a software app for In car GPS devices. Seems as though they are somewhat stuck in their old world.