Rhonda Abrams in USA Today:
If you want to grow your business, it’s time to squeeze some oranges.Consider this: If you’ve been in business for some time, you’ve already invested a lot in your company. I’m not just talking about money. You’ve spent time, energy and careful thought developing products and services, clients and customers, distribution channels and more.
Let’s call that your first basket of oranges. You’re already getting a certain amount of money — let’s call it juice — from that basket.
Now what’s the best way to make more orange juice? Buy a second basket of oranges, or squeeze harder on the oranges you have?
Instinctively, many entrepreneurs wanting to grow their businesses take the route of buying a second basket of oranges. They develop new products, services or markets. But that isn’t squeezing the most out of the resources they already have and may cost them more.
Photo by seanhfoto.
Abdu on June 23rd, 2006 at 9:36 am
I totaly agree with this article. I have experienced the same thing my self.
In few words you perfectly explained what many people go trhu without knowing it.
Great job.
http://choufouni.com
The Diversifier on June 23rd, 2006 at 8:26 pm
Being a diversifier myself, I totally agree with the article. (because I failed before)
I have tried to diversify my business into Chinese travel agencies (http://chinese-school.netfirms.com/Chinese-travel-agency.html) in different cities, dietary supplements such as Diachrome (http://chinese-school.netfirms.com/reviews/diachrome.html) and oriental rug and carpet (http://chinese-school.netfirms.com/reviews/oriental-rug-and-carpet.html)
They don’t work as well. Therefore, I think I should just squeeze one orange harder and harder, and focus on Chinese translation and language teaching related services.
John Green on June 25th, 2006 at 8:47 am
It seems to be the same in every business in that when any problems occur everyone looks for the quick fix when they should really be looking at the systems and procedures they have in place to get the most out of what is already there. and correct the parts that are losing them money.
Everyone looks for the quick result without any planning. maybe it’s why all the get rich quick schemes will always have wiling participants
John
BIZ-GIANT on June 25th, 2006 at 4:26 pm
Hello..
Great article short,sweet and oh so True. The same has happened to me and some tactics have worked while others have not.
Phone Translation on March 20th, 2008 at 10:13 pm
I just love this post from the USA Today. I think it makes a lot of sense to all the business units in today’s market. The most effective way of “squeezing more juice” is an excellent customer service where your customers will be willing to give you this juice.