7 ways to grow your business

7 ways to grow your business

 After you have launched your business, having overcome all the problems, difficulties and own contingency of the 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 to the next level and make your small business to become one of the greats.
Here we present seven ways to grow your business:
Open branches
If your product or service has a good reputation in the community in which you find yourself, perhaps 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 places 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 only would have to grow your template in areas such as sales or counter.
Franchise Your Business
The multiplication of your business by turning 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 action to enable it to achieve.Once one of these associations has accepted you as one of their franchisors, you walk into their marketing programs to get people interested in replicating your business, and thus become your franchisees.
Form an alliance

Forming an alliance with a company that has your same kind of target audience, offering products or services to yours, or that even belongs to your competition, could afford to expand your market, increase your production, get more customers, and other benefits that allow you to grow as a company, and individually you could probably not get.
Diversify
Product diversification, either to be treated as complementary products that already offer, or unrelated to your current products, is another way to grow. For example, you could launch 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 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 to your prospects clubs or sports associations, hotels or service providers that provide complementary services your product or instructors activities related to your product.
Bandaged the government
If until today you had not considered the possibility of selling to the government, it may be that the time has come to do it. The government sell a product or service can make a big difference in your statement. Remember that the government buys a large scale, and probably sell your profit margin per product is reduced considerably, but this will be offset by the large volume of sales you make.
Expand to the Internet
It is well known that comment that sometime did Bill Gates: "In the near future there will be only two types of companies, those with presence and those who no longer do business". Perhaps his comment was a bit exaggerated, but has plenty of reason. Having a good website that is friendly, to facilitate the purchase, and has good search engine rankings, is another great way to grow your business.