In today's competitive business landscape, it's essential for all companies, especially family businesses to continuously innovate and offer new products or services to stay ahead of the curve.
By adding complementary products or services to your existing business, you not only broaden your customer base but also increase revenue and enhance brand recognition.
I call this - starting your [in]Side Hustle!
Businesses that emphasise innovation and product development are more likely to thrive in today's fast-paced and ever-changing business world!
Introducing new products or services can help diversify your revenue streams and reduce your reliance on a single product or service. This can help protect your business from sudden shifts in the market and provide greater financial stability over the long term.
Developing your [in]Side Hustle also sends a positive message to customers and stakeholders that your business is forward-thinking, adaptable, and always looking for ways to improve.