Having launched your business, having overcome all the problems, difficulties and own contingency initial stage of any project, and finally feel the security that comes from having a stable business that always generates profits, it is time to the next level and make your small business to become one of the greats.
Below we present 6 ways to grow your Business:
Open Branches
If your product or service has a good reputation in the community in which you find yourself, it may be the right time to open one or more branches. The best example of the success of this strategy are convenience stores or self-service that replicate their formats in different locations in order to achieve greater market penetration. One of the advantages of growing up in this way is that your management team can remain the same, and one would have to grow your staff in areas such as sales or counter.
Franchise Your Business
The multiplication of your business to make it into a franchise is an alternative that can not fail to consider. Today there are several associations representing franchisors business, and conducting studies to determine if a business applies for that model or if you need to take measures to achieve it. Once one of these associations has accepted you as one of its franchisees, you walk into their marketing programs to get people interested in replicating your business, and thus become your franchisees.
Form a Partnership
Forming a partnership with a company that has your same type of target audience, offering products or services to yours, or even belong to your competition, could afford to expand your market, increase your production, get more customers, and other benefits allow you to grow as a company and individually that you probably could not get.
Diversify
Product diversification, whether the case of complementary products that you offer, or unrelated to your current products is another way to grow. For example, you could bring to market a new line of products, training courses for the use or distribution of your products or services, or give lectures in forums that are related to your activities.
Expand Your Target Market
Another way to grow your business is by expanding your target market. For example, if your target market is made up of young people between 15 and 35 years, and your product is related to adventure sports, you could add your prospects clubs or sports associations, hotels or service providers that provide complementary services your product or instructors for your product activities.
Expand to the Internet
Having a good website that is friendly, to facilitate the purchase, and have good positioning in search engines, is another great way to grow your business.
