How to Grow Your Small Business
How to Grow Your Small Business
You’ve already accomplished something by surviving the startup process. Now it’s time to begin focusing on truly getting the most out of what your business can offer you.
The following are the leading tips for helping you to grow your business. You may find that they are all helpful, or that only a few apply to you. The trick is to go over them carefully and consider each one with regards to the growth of your small business.
• Startup a new location – you may have done as much as you can with one location. Perhaps it’s time to consider expansion. Many entrepreneurs fail to consider this option because there is, indeed, a great deal of research, planning, and often risk involved. If you are wondering whether expansion is right for your business, consider the following points:
Be certain that you’re already holding a steady bottom-line profit and that you are consistently showing steady growth throughout the past few years.
Examine the consumer and economic trends with regards to your industry and the ability for an extension of your company to succeed.
Be certain that your admin systems and management team are exceptional. This is a necessity in order to achieve a successful startup.
Write and follow a business plan for the new location.
Find out how you will obtain your financing.
Make your location selection based on what is the best place for your business extension, and not what is simply the most affordable.
• License your product or service – This can be done relatively inexpensively an can be a very effective technique; especially if your product or service is well branded. By working this way, you will not only receive money upfront from other businesspeople, but you will also receive royalties from the continued sales or use of your product or service. This technique also limits your risk, as it is substantially less costly than extending your business or offering it as a franchise.
• Strategic Alliances– By aligning your business with similar or complimentary businesses, you can quickly expand in a very powerful way. Even if the idea of offering commissions from your sales sounds a bit unpleasant, when you consider the dramatic increase in sales you’ll be receiving, the commissions will barely be noticeable.
• Diversify your business – Some great ideas for diversifying your line of products or services includes:
Sell new products or services that compliment the ones you already offer.
Use your expertise to teach related adult education courses about the use of your product.
Become a paid speaker about topics relating to your products or services.
• Look into new markets – Since you’re already seeing success in your current marketplace, you may wish to look into tapping into some new ones as well. Multiple revenue streams from several marketplaces can be an extremely lucrative situation. Look into the different options and demographics out there, and see which ones are most likely to be attracted by what you’re offering.
• Obtain a contract with a government agency – the federal government is the largest buyer in the world. Consider it as a prospective client, and look into some options for providing its agencies with goods and services by way of contracts. This may sound like a very large step, and true, there is some work involved for getting there, but it is one of the best things that can happen to your business when you get it right and earn that first contract.
Naturally, these are far from the only options available to you, but they are great ways for you to begin brainstorming for opportunities that will work for your own business. The key is to be realistic, motivated, and thorough about the entire growth process.
Robert Moment is an innovative small business coach and author of Invisible Profits: The Power of Exceptional Customer Service. Robert specializes in teaching small business owners “how to” actionable small business ideas and strategies that generate profitable results. Visit http://www.smallbusinessmarketingideasstrategies.com and sign-up for the FREE Small Business Marketing 5 day e-course.
How to Grow Your Small Business - To learn more about this author, visit Robert Moment's Website.
Like this article? Share it with your friends
Every small business person is always looking for additional great ways to grow their business in a healthy and manageable way. After all, if you are to maximize your success, then you can’t do it while standing still. There are always improvements that can be made to grow the business and make it better.
You’ve already accomplished something by surviving the startup process. Now it’s time to begin focusing on truly getting the most out of what your business can offer you.
The following are the leading tips for helping you to grow your business. You may find that they are all helpful, or that only a few apply to you. The trick is to go over them carefully and consider each one with regards to the growth of your small business.
• Startup a new location – you may have done as much as you can with one location. Perhaps it’s time to consider expansion. Many entrepreneurs fail to consider this option because there is, indeed, a great deal of research, planning, and often risk involved. If you are wondering whether expansion is right for your business, consider the following points:
Be certain that you’re already holding a steady bottom-line profit and that you are consistently showing steady growth throughout the past few years.
Examine the consumer and economic trends with regards to your industry and the ability for an extension of your company to succeed.
Be certain that your admin systems and management team are exceptional. This is a necessity in order to achieve a successful startup.
Write and follow a business plan for the new location.
Find out how you will obtain your financing.
Make your location selection based on what is the best place for your business extension, and not what is simply the most affordable.
• License your product or service – This can be done relatively inexpensively an can be a very effective technique; especially if your product or service is well branded. By working this way, you will not only receive money upfront from other businesspeople, but you will also receive royalties from the continued sales or use of your product or service. This technique also limits your risk, as it is substantially less costly than extending your business or offering it as a franchise.
• Strategic Alliances– By aligning your business with similar or complimentary businesses, you can quickly expand in a very powerful way. Even if the idea of offering commissions from your sales sounds a bit unpleasant, when you consider the dramatic increase in sales you’ll be receiving, the commissions will barely be noticeable.
• Diversify your business – Some great ideas for diversifying your line of products or services includes:
Sell new products or services that compliment the ones you already offer.
Use your expertise to teach related adult education courses about the use of your product.
Become a paid speaker about topics relating to your products or services.
• Look into new markets – Since you’re already seeing success in your current marketplace, you may wish to look into tapping into some new ones as well. Multiple revenue streams from several marketplaces can be an extremely lucrative situation. Look into the different options and demographics out there, and see which ones are most likely to be attracted by what you’re offering.
• Obtain a contract with a government agency – the federal government is the largest buyer in the world. Consider it as a prospective client, and look into some options for providing its agencies with goods and services by way of contracts. This may sound like a very large step, and true, there is some work involved for getting there, but it is one of the best things that can happen to your business when you get it right and earn that first contract.
Naturally, these are far from the only options available to you, but they are great ways for you to begin brainstorming for opportunities that will work for your own business. The key is to be realistic, motivated, and thorough about the entire growth process.
Robert Moment is an innovative small business coach and author of Invisible Profits: The Power of Exceptional Customer Service. Robert specializes in teaching small business owners “how to” actionable small business ideas and strategies that generate profitable results. Visit http://www.smallbusinessmarketingideasstrategies.com and sign-up for the FREE Small Business Marketing 5 day e-course.
How to Grow Your Small Business - To learn more about this author, visit Robert Moment's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
|||
John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Robert's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
|
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Zero Based Budgeting Breakdown, Breakthrough SEO Made Easy Intro to M&A Traffic to Site |
|
 | ||
 |
Top 50 Marketing Blogs
Top Marketing Blogs of 2010 | |
 |
Choose A PR Topic
Press Release Builder | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||
|
| ||||||||||
|
|
||||||||||