Summary:

While expanding product or service offerings is a viable way to grow the business, oftentimes, startups will go to market with one or few product offerings to start generating sales within their target market and customer base. Another growth strategy to consider is expanding into new markets with the same product or service. This could mean providing the same or slightly adapted products or services to cater to a new geographical footprint, a different industry, market segment, or a new use case that was not the original core focus at development.