Feeling stuck? You’re not alone.
Many small to medium-sized business owners hit a growth plateau. Maybe what used to work just isn’t working anymore. Revenue’s flat. The energy’s fading. You’re left wondering, “What now?” What sales growth strategies can I use?”
The good news? There is a way forward. In fact, there are four growth strategies. And they’re simpler than you think. Whether you’re recovering from a slowdown, scaling up after a solid foundation, or just ready for a fresh push, these four growth paths can help reignite your momentum.
Let’s break down the four proven strategies to get your company growing again, using a simple yet powerful matrix that’s been guiding business leaders for decades.
I prefer to look at these on a spectrum: from easiest and least risky to hardest and most risky. Here’s my recommended order for consideration.
1. Sell Existing Products and Services to Existing Customers
The easiest win is right under your nose.
When growth stalls, many business owners instinctively look outward. But your current customers are often your best bet for boosting revenue. They’ve already bought from you. They know, like, and trust you. Now it’s about deepening that relationship.
How to do it:
- Upsell or cross-sell: If you own a landscaping company, offer seasonal maintenance packages to your one-time clients.
- Improve customer experience: Better service equals better retention and referrals.
- Ask what else they need: You’ll be surprised what customers will buy when you simply ask.
Example: A local gym started offering personal training add-ons to regular members. Within three months, 22% of existing customers signed up, resulting in a 15% revenue bump.
Conclusion: Sell existing products and services to existing customers — it’s often your lowest cost and highest return path.
2. Sell New Products and Services to Existing Customers
You’ve earned their trust—now expand your value.
If your clients are already buying from you, they’re more open to trying something new from you than someone they don’t know. This strategy is about innovating with your current base in mind.
How to do it:
- Survey your customers: What problems are they facing now that you could solve?
- Create complementary offerings: If you run a bookkeeping service, add tax planning or financial advisory.
- Pilot before you launch: Start small, get feedback, and refine.
Example: A home-cleaning business added eco-friendly cleaning supply deliveries for loyal customers. The service became a recurring monthly income stream.
Conclusion: Sell new products and services to existing customers — it’s about giving them even more reasons to stick with you.
3. Sell Existing Products and Services to New Customers
Time to meet some new faces.
Once your product or service is dialled in, why limit your audience? Reaching new customers can be as transformative as it is invigorating. And in today’s digital-first world, there are more ways than ever to do it.
How to do it:
- Refine your marketing: Are you clearly showing your value in ways that new prospects will understand?
- Leverage referrals and partnerships: Team up with businesses that serve the same audience.
- Expand your geography: Could your product work in a new region or market?
Example: A boutique catering company began targeting local corporate events instead of just weddings. It opened up a whole new customer stream.
Conclusion: Sell existing products and services to new customers — sometimes, your offer is already great. It just needs a new audience.
4. Sell New Products and Services to New Customers
The boldest move—high risk, high reward.
This one’s not for the faint-hearted. It involves entering new markets with new offerings. It’s a leap. But sometimes, it’s the exact leap your business needs.
How to do it:
- Identify unmet needs: Use market research to spot gaps competitors haven’t filled.
- Start with a test market: Don’t go all in until you see traction.
- Build strategic alliances: Partner with experienced players in that space.
Example: A small IT firm built a cybersecurity product for nonprofits, a group they’d never served before. It was a slow start—but within a year, it became their highest-margin offer.
Conclusion: Sell new products and services to new customers — while it requires effort and investment, it can transform your business.
The Takeaway: Growth Isn’t Guesswork
Every business that grows—really grows—does it through one (or more) of these four paths:
- Sell existing products and services to existing customers
- Sell new products and services to existing customers
- Sell existing products and services to new customers
- Sell new products and services to new customers
They sound simple because they are. But simple doesn’t mean easy. The key is to strategically choose which path (or combination) makes the most sense for where you are right now.
So, what’s your next move?
Start by revisiting your customer base. What else can you do for them? Where else can your current offer shine? Or is it time to innovate?
You don’t need a massive budget or a revolutionary idea. You need clarity, consistency, and the courage to take the next step.
Need help deciding which path is right for your business?
Let’s talk. I help business owners map out practical growth strategies that align with their strengths and market opportunities. Book a complimentary 15-minute call with me at www.timewithshane.com, and let’s get your growth engine running again.
