Final answer:
Small businesses typically do well by focusing on one target market initially, establishing a core competency before expanding. This concentrated effort can lead to greater success and sets a solid foundation for long-term expansion.
Step-by-step explanation:
It is indeed customary for a small business to concentrate its efforts on one target market at the beginning and consider secondary markets later. This strategy allows the company to focus on building a core competency, often leading to success that exceeds that of firms that attempt to create a vast array of products. By honing in on a specific market or a limited selection of products, a business can dedicate resources to quality, customer relationships, and brand development in that area. Over time, as the company stabilizes and grows, it finds it easier to expand production and explore additional markets over a period of several years, rather than rushing into diverse areas in the short term which can be costly and complex.