Growing a Business
When you’ve worked hard, constantly updated your business plan, developed your business skills, networked to establish valuable relationships, utilised your good management expertise, and grabbed opportunities along the way, you have created the opportunity for growth in your business. Congratulations !! You’re standing at the doorway to the next stage of development.
In order to avoid “crisis management” or management decisions on the run you should now update your business plan with your growth strategy.
There are many components to a growth strategy, which include:
1 - Build Relationships
Business networking and marketing yourself
2 - Business Online
e -business, the internet and leasing equipment
3 – Expand into Exporting
Selling to distant markets
4 – Access Finance
Money for expansion, the bank loan and documentation
5 – Investors and New Partners
Changing the business structure and due diligence
6 – Plan for the Future
Business options
7 – Lease Premises
Business incubators
8 – Go Green
Environmentally friendly business practices
9 – Employ Staff
The ABC of employing someone
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