Businesses of all types in every sector are capable of significant growth. The constraining factor isn’t the business model – it’s the ambition and capability of the owner-manager. Although it may take longer to grow in some sectors and some business models can be scaled more quickly than others. Hence, business growth strategies play a crucial role in the expansion of a business.
How to develop a business process and build Business Growth Strategies?
If you are to achieve significant growth, your processes and systems will need to change. And people who were right at the start may not be right as the business grows. The owner will have to change their own behavior and move from ‘hero’ to ‘strategist’. This is a great challenge and often one of the biggest barriers to growth. Nearly 90% of successful growth businesses grow by selling more of their existing products and services to existing customers and others like them. Most businesses grow organically.
Distributors can help you reach markets you could not otherwise target, or not target as economically – for example, if you are a new business, or venturing into a new, unknown market. Businesses often appoint distributors in overseas markets because a local business has existing local customers, contacts, and relationships. Therefore, they understand the local business culture and practices better. We will make sure the distributor has sufficient market reputation and financial strength to achieve what you want.
Franchising could be the ideal way to expand your business, but it’s not something to embark on lightly. If you’re considering taking the plunge, we’ll help you decide whether franchising is right for you. We have created many business growth strategies for small businesses who have scaled up in size and volume in different markets.
Often, you’ll achieve quicker business growth. You can create a number of outlets in a relatively short time and you need only a smart core team with a few highly skilled staff. As franchise owners invest their own money, they’re likely to be highly motivated with lots of local knowledge. This is one of the most important business growth strategies for entrepreneurs who want to take up a franchise rather than start from scratch. We can build credibility, authority and genuinely help you by solving problems for you and inspiring you in different ways.