Author Michael Masterson has a good thought on that question:
"The most reliably profitable businesses are often those that sell products or services that need to be replenished. (Think groceries. Think magazine subscriptions. Think lawn maintenance.)
If you are selling such a product or service, so much the better. But if you are not - if you are selling a "one-shot deal" - spend a little time figuring out how you can make it replenishable.
There's always a way to make a perfectly good product obsolete. Sometimes you can do so merely by making a few superficial changes. (Think Japanese cars.) Keep in mind that most people tire of the same old things, even if the same old things are perfectly good. By taking an existing product and making it "new and improved," you satisfy the customer's desire for something different and give yourself a chance to resell to your existing customer base - always a very lucrative practice."
One of the businesses that I run has that problem: It's a one-shot deal. But this article has got me thinking of ways to keep generating sales with this company in ways I hadn't thought of before.
Can you do the same with your business?
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