You are probably reading the title of this blog and thinking to yourself: what does this have to do with small business? Low hanging fruit is a metaphor for opportunities that are right in front of you. It is such a shame to see entrepreneurs who complicate their lives and businesses because they pass by the low hanging fruit and climb to the top feeling there will be more rewards. An opportunity is an opportunity. When risk is involved, the process needs to be clear and all other options should have been exhausted.
Opportunity is all around us. Sometimes it is within our reach but for some reason we look past it and put our sights on things that are harder to obtain. Before you reach for the top branches, take a step back and get a clear picture of the opportunities right in front of you.
How do you make sure you don’t miss out on low hanging fruit?
- Re-evaluate what you are presently providing to see if you can expand your product line or service.
- Research to see if you can expand your market.
- Reach outside your coverage area and expand your territory.
- Have you considered exporting?
- Re-evaluate your employees and their talents. Utilize the talent pool within your business.
- Have you added new media or online marketing?
- Do you follow up with your clients? It is a lot cheaper to sustain and keep a client than to replace a client.
- Have you thought about franchising?
- What about partnering (creating duel visibility) with another company that complements your business.
- Stop trying to do everything. Do what you do best and hire professionals for the rest.
In the long run, you will find that grabbing the lower fruit will save you both time and money.. Don’t make things more complicated then they have to be. Now is the time to start looking for opportunities that surround you and are within your grasp.
The Halton Region’s Small Business Centre is here to help you. One of the goals of the Centre is to empower small and medium-sized enterprises and give you the tools to achieve success. Ask us about our Access to Professionals program. For more information about this and any of Halton Region’s other Small Business Centre resources and services, and how we can help direct you to the right resources, contact us at 1-866-4HALTON (42-5866), www.haltonsmallbusiness.ca, firstname.lastname@example.org or visit us at 1151 Bronte Road, Oakville.