TIM411: Streamline Your Product Line

 
 
Today on TIM411: Ask Me Anything, Tim talks about how scaling revenue out of the low millions should start with trimming the product/service fat out of your company. Most companies have too many products and/or services by the time they get to $1 million in revenue and these products eat up a lot of the companies resources in time, attention and capital requirements (people, ad spend, etc).

Analyze which products are your most profitable, bring in the most revenue and which ones bring in the most customers. Determine which products should be front-end or back-end products and sell them accordingly.

Cleaning up your product/service offerings will give you room to innovate, which you’ll need to grow past $5 million to $10 million.

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