• image

    Any entrepreneur dreams turn your small business into a big company someday. Having worked hard to kick-start your project and consolidate in the market, what you want is expandirte further.

    But do not think this will get by implementing a single method to increase your customer base and sales. Within your expansion plan you should use several techniques if you want to succeed.

    So today I want to share six growth strategies to expand your business to help you on your career path.

    These expansion methods have been used by large companies such as Coca Cola, Microsoft and Nike to reach the position and global recognition, where they are today.

    So if you also want to see how your venture grows and your buyers increase, use these six strategies combined growth to see results in no time.

    6 growth strategies to expand your business

    1. Deepen your current market

    This strategy is technically called "market penetration" and is to grow within your same market with products or services you currently offer to your business.

    A good method to achieve this is to attract new customers so far are not within your clientele.

    For example, if you have a physical store where you sell cell phones, you can find new buyers on the Internet promoting you on social networks like Facebook, Twitter and Instagram, or even open your own online store where you offer the same items in your store physics.

    Another technique for expandirte within your regular buyers is making various promotions such as:

    • Discounts
    • Creating programs points
    • Offering free samples
    • Putting up contests
    • Or giving exclusive access to new products or services before they are available to the public

    Both growth strategies are very effective to expand.

    But if your business is still small, I recommend that you focus first on attracting new customers and, once you have a good base of buyers, put into practice the second technique of making promotions.

    2. Develop new products

    Any business is bound to innovate from time to time or risk losing the interest of buyers. But to achieve it is not necessary to reinvent itself from head to toe every 6 months.

    Simply introduce new products each season to capture the attention of your customers.

    Note that the relationship between a brand or company with consumers is like a marriage: every so long to rekindle the flame, or interest may be lost forever.

    And in a business best to accomplish this is to launch new interesting and useful products for your buyers.

    They can be improved any items you already have for sale version, or a complementary product that can improve previous.

    Growth Strategies

    Imagine you sell furniture - beds, shelves, dining tables -. You could start offering your customers sheets, bedspreads and cushions to make beautiful furniture for your bedroom that.

    Or you could start selling decorative items like picture frames, boxes or cups games should give a different touch to their homes.

    Whatever it is, it is very important that every few months new products enter in your catalog so that your customers do not get bored of seeing the same in your business.

    3. Hire more employees (or your first worker)

    This may not seem like a growth strategy, but the fact is it is very important to surround yourself with a good team to help you expand your business.

    If you are a small entrepreneur, and so far you've handled everything yourself, you should consider whether it is the right time to have another person with you to help you with your venture, especially if more and more increases your number of customers.

    In the following article you will find some tips to help you with this: When should you hire your first employee?

    If you already have a staff of workers, and notes that every day the work is greater for them (and even you) due to an increase in your sales, consider including a couple of new people who can help with daily tasks.

    Remember that good customer service is essential for a business to grow.

    If employees lack of buyers are underserved or not get the attention they want, chances are that your competitors where they treated better leave.

    4. Focus on a customer segment

    The problem many small business owners is that they want to attract all types of customers because they think that sales will rise faster.

    But actually that's the worst technique that can be used. So you will achieve only implement marketing strategies that work only with 5% of the people to whom they are addressed.

    What you should do is focus on a segment of customers who may actually be interested in your products or services, and strive to create appropriate conditions for them advertising techniques.

    The first thing to do is to know your products, and know who your buyers, and it is important that you make the profile of your ideal client.

    Are they men, women or pets? How old are them? What are your main interests and tastes? What environments move: buy online or prefer a physical store?

    Do they use social networks, reading blogs, or more look like magazines and television?

    When you give answers to all these questions, you will have developed the profile of your customer and know what you must focus strategies to lure to your business.

    5. Try new promotion strategies

    If your advertising so far all efforts have not given you the results you expected, try new methods of promotion for further growth.

    If you do not have a profile on a social network for your business, open an account and start uploading news, photos and promotions of your products.

    You can also create a website for your business with pretty pictures of your articles, and Internet users can find you and know where you are.

    Think of other growth strategies offline also, such as introducing propaganda mailboxes different floors, hand out leaflets on the streets near your business, or even contact a magazine or radio business to achieve wider dissemination.

    A good tactic is that notes on paper all marketing strategies you've used so far, and scribes also those that have not yet used to start implementing them.

    6. Partner with other businesses

    This latest growth strategy is not very popular among young entrepreneurs for a reason: they think in all other businesses as competitors, rather than as powerful allies.

    However, partner with another having similar customers to yours can reportarte many benefits.

    By collaborating with others who may take longer in the business world you, you will learn new promotional techniques that may never have occurred to you, and you can help each other consulting questions you have.

    In addition to greatly increase the number of buyers who come to your business.

    Growth Strategies

    How do these collaborations? Looking for a venture similar to yours, and talk to responsible to see how you can to get customers to amboas companies together.

    For example, if you have a beauty salon where you do waxing, manicures, facials, but do not give hair services, you can find beauty parlors and do a collaboration with them.

    Give your customers discount coupons to go to the hairdresser, and turn the owners of hairdressing cards also give promotions to your customers so they can go to your salon.

    So everybody wins, and expand your customer base.

    Which of these growth strategies you used in your business so far? Leave me a comment below and tell me what tactics are you have worked best.

img

16 Lessons every entrepreneur should learn before Starting a Business

The truth is that one is never ready to undertake. There are business lessons only learn when you will be encouraged to start your own business.

img

10 Tips to win your first million

Do you want to start building your way to financial success? One of your financial goals is to win a million, but do not know how?

img

The 10 Commandments of Financial Success

There are 10 factors that entrepreneurs have in common to achieve financial success. By investing in your mind, you're doing the biggest business.

img

7 Steps To Move from Employee to Entrepreneur

If you're thinking quit your job and be an entrepreneur, we explain how to stop being an employee and becoming an entrepreneur following these seven steps.