Growth by adding new services can benefit small businesses. Consider this example.
We recently worked with the good people at C&C Machine. They are a precision machine shop specializing in heat sinks, bus bars and other machined components. C&C has been in business for over 35 years, yet sales had become stagnate.
We utilized concepts from the System of Pi to generate, research, vet and implement new ideas in an effort to increase revenues. We had the choice of many ideas. We chose to add the service of 3D printing. It was a good decision. New revenue followed quickly after idea implementation. Some of the new revenue came from their existing customer base and some came from new customers.
This idea was not a game-changer in terms of disrupting a market. No VC or other financing was required. No new facilities were required. It was a rather simple idea implemented that helped increase revenue and profits for a small machine shop. It was an innovative idea for C&C Machine.
C&C Machine chose to be proactive in an effort to improve their business. They did not simply hope for business to improve on its own.
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