Are you happy with your business, or is it time to expand? If you are looking to grow, consider these business-building ideas that could take your company to the next level.
1. Embrace the Internet: Create a Web site
In today’s digital age, having a Web site and e-mail address is expected of a business, and can make a critical difference in building name recognition and attracting new customers. A Web site is a 24/7 portal to your customers where you can provide information about your company and advertise your services
2. Expand Your Niche
If your company currently takes aim at a certain niche market, consider whether you could expand that market to offer new products or services, expanding your reach and appeal.
3. Hire Support Staff
While it’s important to be involved in all aspects of your business, there comes a point where delegating tasks becomes necessary. If you find yourself unable to focus on your clients’ needs because you’re buried in bills or payroll every week, hire an administrative assistant to take the load off.
4. Open Another Location
Entrepreneurs who have found their business growing steadily over the years might benefit from opening another location.
5. Secure a Government Contract
While a government contract might sound like a sure way to increase revenue, it’s vital to make sure the job is the right fit for your small business before bidding. Be sure you understand exactly what will be expected of you before submitting your proposal, and that you will be able to meet the government’s demands and comply with regulations.