A small enterprise need to work harder at focusing its limited resources of time and money. In choosing the best distribution channel for your business, you need to factor in the costs and time involved in entering the channels, your experience with the channels, and which channels best reflect the product positioning that you believe is crucial to your success. Generate volume revenues from each customer. Look for businesses where you will have a lot of repeat customers or where people will need to keep buying supplies or products from you. Drive the business with new products or services.
Product development is oftentimes a hit and miss process for small businesses.
New products are introduced only as a reaction to competitive challenges or because of the development of proprietary technology or patents. You need to be able to identify whether the demand for your product or service is increasing, leveling off or declining. Determine if there are opportunities for your company's products to be refreshed in the marketplace by being repositioned, improved or brought out in a new size, flavor or package. Or if the old product has outlived its usefulness, you need to be able to pick up the slack by introducing a new product in the market. Continuously readjust to the marketplace.