Home Runs and Base Hits

by Roy Paul Prosise on June 1st, 2016

​In a new product company, a novel product can jump start the product company and build your brand, however you need to consider product line expansion for the company to grow. A flagship product can be unique and new product which becomes the bread and butter of your business, but most one-hit wonders have a 2-3 year lifetime of sales growth before sales begin to diminish due to a product fad or new competition in the market space. You have to consider future generations and upgrades to your flagship product in the early stages of development as well as expanding your product line.  Not all products in your product line have to be home runs. You can supplement your product line with complimentary products for your flag ship product such as wine toppers in a wine product company.
For product line expansion some products may fall into the same product category, but might not be as novel. You can also spin your flag ship product for other markets for example exploiting a wine chiller concept to a chiller in beer bottles. The goal is long term growth for your product company as new product sales will eventually plateau! For example, Corkcicle tm began with Beknown® with a cigar tube concept for a wine chiller and now Corkcicle tm has over 10 unique products in their product line that we help them source and produce to keep the business growing.


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