Home » Business » Business Opportunities

Think Little - Grow Big !

Aug 17, 2007
One of my all time favorite books was 'Think and Grow Rich' by the well known author Napolian Hill where he talked about various personal development topics and how to develop the habit of winning in life. This is basically where the title for this article comes from.

Although the article here is slightly off on a tangent it the principle here still applies. When you consider that both at home and in business if you dont pay attention to whats working and not working its very difficult to have successful results.

Notice as you sit in your home or office, how many products you can reduce in size. And as a result making it more portable,more useful, easier to use, easier to store or easier to afford - and more.

For example, observe how computers have gone from room sized to pocket-sized in less than 50 years. Everything is reducing in size from food packages to families.

Items you never thought of a few years ago is reducing, slimming and down-sizing. And as a result tapping into a whole new niche market, a perfect example of less being more!

For example, slimmer watchbands, smaller cameras, shorter cell phones and more. The principle of reduction or thinking smaller could open a whole new market for your product or service.

If you sell a product or service, is there any way to reduce a certain feature to make it more convenient? Can you reduce it and make it more affordable for a larger market?

If you can't reduce the product itself, can you reduce a feature of the product like a slimmer handle, smaller knobs or can you make the product lighter?

You can also think small when it comes to your marketing approach. For example, does your business cater to families, then what about catering to singles? Or single mothers? Or how about single seniors?

If you sell a service, how about having part of it self-service and reducing the price, this could attract a whole new market of people.

The self-service idea has worked well for oil companies, mini-markets, and even fast food establishments. So, maybe it could work for your business too. Do it yourself is the growing trend for today's successful businesses.

You can create a powerful niche for your product or service by using your head and thinking smaller. If a regular size is successful, a min version could attract a whole new niche market.

There's always a segment of the population who could use a pack of catsup instead of a bottle. Some people only want a bite-sized piece of candy instead of a bar. The same is true for other product and services as well.

Can you make a portion of your product or service Bite Sized for your customers.

Can you see how ignoring the habit of thinking smaller could cost you sales? You could be overlooking many people who like what you have, but don't need so much of it.

Reducing a feature on your product or service and the price may open the door to a new niche market for you.

If your competitors haven't thought of thinking smaller you could be a step ahead of them before they can react.

The principle of reduction can help you sell more products and services. Just by taking the time to think smaller can increase your profits.

With the drop in the size of families and people staying single longer, businesses who think smaller will create new customers.

As you think smaller you'll start speaking to the needs of a growing chunk of the population. But remember, you can reduce the product size but never the product quality. In fact, this can help you to improve it.

People are demanding higher quality in the reduced version of products and services. So, you should be taking advantage of this also. Be wary of trying to keep everyone happy when you could possibly have a lot more success by specialising and perhaps even creating a niche for your market. For example instead of selling every type of handbag on the market from the $5 bag to the $100 you could have a sign on the front of your shop guaranteeing to have nothing over $10 and that would be your niche.

Offering the reduced version is also a lower risk way to get prospect to buy the larger version. Your smaller first version can be the start of a larger sized purchase in the future. Everyone loves the small samples or trial version of a popular product, don't you?

Never assume the reduction in size means reduction in quality or it will be to your peril. Because the size is reduced, people tend to focus more on the quality of the product or service.

So, today you can start opening doors to larger markets and bigger profits by simply thinking smaller.

If you sell a product or service, is there an way to reduce a certain feature to make it more convenient? Can you make it more ?

If you have a business where you can try different ways of serving your customers better then making the physical size of things smaller as discussed here is just one thing you can do to test your market to see what works and what doesnt. Just as importantly you need to know how well the original way of doing things was working and then track the results of the changes so you can see the difference.
About the Author
Mr James started My Business Tips Online in 2006 to provide business advice, etc and write articles about his industry-full article here
Please Rate:
(Average: Not rated)
Views: 143
Print Email Report Share
Article Categories