5 Ways to Grow Your Business

When you first started your business, you probably did a lot of research. You may have sought help from advisors; you may have gotten information from books, magazines and other readily available sources. You invested a lot-in terms of money, time and sweat equity-to get your business off the ground. So…now what?

For those of you who have survived startup and built successful businesses, you may be wondering how to take the next step and grow your business beyond its current status. If you’re ready to grow, we’re ready to help.

Innovate your product or service.
Discovering and promoting new uses for your products or services is a great way to both get existing customers to buy more and attract new customers. Think petroleum jelly and duct tape—and how few of these would actually be sold if they only had one use!

Research the competition
When going to market, and you’re really looking to get your offer to the masses, you need to research the competition. Frasier says he uses two platforms to conduct his research.

This allows you to uncover any advertiser’s online strategy. Find the ads that have been running for the longest and emulate those. That’s the quickest way you scale any business. If it’s proven and it’s working for your competitors, it’s likely it’ll work for you.

Market Your Business Better
Marketing your business well is key to gaining new projects and clients. A professional website and maintaining social media profiles that make sense for your community are two highly recommended options

Invest in the Right Technology
It amazes me just how many business owners have grown businesses without real systems and processes in place and they continue to struggle daily. The business has most likely hit a glass ceiling mainly because of the human limitations on what is manageable in a single day.

By utilizing the right technologies, it gives you the ability to systemize and scale creating sustainable and often more profitable growth because you can do more with less human resources.

International expansion.
Can you expand internationally? Can you take your existing offers and scale them internationally? What would it take to do business in Canada or Mexico or Europe? If you have a converting offer, international expansion could be a quick way to grow. You’ll incur some costs. Sure. But, the potential for profits could be massive.

There you have it; how to grow your business. Don’t let this list overwhelm you; pick one or two of these ideas that are suitable to your business and your circumstances and get your plan for growing your business underway.

While you probably won’t experience growth right away, whichever way of expanding your business you choose, you will see progress if you keep at it, and will successfully transform your business into all you want it to be.