Product diversification is enabling Beau Ties Ltd. of Vermont to tighten its hold on a niche market.

By Matt Griffin and Catalog Success

If the business can’t support paying your salary, at least you’ve got something else to fall back on, notes Venman. As a bonus, if you’re not dependent on the new catalog for income, you can feed that revenue back into the business to facilitate growth, says Kenerson, president of Beau Ties.

2. Consider the reality of your concept. “Just because you love an idea doesn’t mean there’s a market for it,” says Venman.