If you want to expand your business, plan and prepare your strategy for the process. Successful growth of your business means thinking about the present and the future. Forecasting and planning are critical to your continued success.
Vision is a key to the growth of any organisation or business. Let the vision drive your business to success and never lose sight of your destination as a business leader.
Knowing the core values of your business or organisation is key to its growth. Core values are simply what your organisation stands for and the things you cannot (and will not) compromise as a business. Take some time to write these down and apply them to your business – every single day. One great core value? Let excellence always drive your work.
Most successful businesses or organisations run on good systems. Leaders develop processes that make the business function without depending on one person. This might mean hiring people or outsourcing. Training is a huge component in building a system to propel your business to the next level. When you find what works for your business, keep improving it! If your business or church can’t run without you the leader, then it’s imperative to create a system that doesn’t depend on you. Start building your systems today and watch growth happen and your business will take flight!
This is an unavoidable action for any business leader. You must build your workforce by training them regularly for improved performance. Please do not underestimate this, as it can make or break an organisation.
When your business gets to a certain point, you need experts to help you take it to the next level. When you start, you are the janitor, web designer, admin, etc. You need to be able to identify when you need help and seek out that help from experts more qualified. Most businesses don’t survive because its owner refuses to bring in outside help from experts! In other words, fire yourself and hire those who complement your weaknesses!
Staying relevant is the currency of life. Be quick to adapt and move forward. The life and the success of your business depend on this ability.
Increase your capacity
Your business depends on your capacity as a leader. You can increase your capacity many ways. One way is by educating yourself and continuously learning through reading books, networking with people, following the leadership of a mentor and learning from the best in your industry. If your business is not growing, look at your capacity and make a point to improve it. This will take your business to next level.
Using technology in your daily operations
Each day, advances in technology are made that provide additional opportunities and new challenges for your business. Technology can help increase business efficiency and even expand operations. Information and communications technologies (ICT) can be used to support many of your business activities, from internal business systems to business communications to electronic commerce.
While you may need to make an initial investment of resources, this kind of electronic business (or "e-business") can improve your efficiency in the long run by saving you time and streamlining your processes. It can also open up new opportunities for collaboration and the exchange of data, all of which can ultimately contribute to an increase in revenue.
Ideas for Growing Your Business
If you have already started your business and wanted to expand your business, what you can do to help your business to grow. There are 10 ways which are outlined below and you have to choose a one (or ones) which suited your business. It will depend on the type of business you owe, your available resources, and how much money, time and resources you are willing to invest all over again. Take a look at the following tips:
- Open another location
- Offer your business as franchise or business opportunity
- License your product
- Form an alliance
- Target other markets
- Win a government contract
- Merge with or acquire another business
- Expand globally
- Expand to the internet