Tips For Expanding Your Business So you have achieved your dream of starting your own business. To get started you put in countless hours of research to ensure your business plan had legs. You sought the counsel of others and you rolled up your sleeves to make it happen. You should be applauded for doing what many people fail to do: start and run a successful business. Perhaps you are seeing good success, but you feel like it is time to take things to the next level and really grow your business. Maybe production and sales are remaining even because you don’t have the infrastructure to expand. Here are a few things to consider if you really want to start growing your business.

Merge With Another Company One idea you could consider is to form an alliance with another similar company, or one who offers products or services that are complementary to yours. There is real potential for growth when you pool the resources together with another entity. Of course, doing a lot of research to make sure you merge with a viable company that you want to associate yourself with is critical.

Open Additional Locations This is really applicable to businesses that rely on a storefront model, where people actually come in to the location to purchase products or services. Perhaps you think you have tapped the local market to the point where future growth may be nominal. Opening another location might

be just the thing to do to attract new customers in a different locale. Of course, you will have to do your due diligence in making sure opening a new location has the potential for revenue that justifies the extra operating expenses that will be incurred.

Franchise Your Business This may seem complicated and like too much of a hassle for many, but it can be a good choice for some small business owners. It will allow you to still control the brand, but to

allow others to participate as owners, operating your business model. If done right, franchising your company can contribute to long-term success and viability.

Add Additional Products or Services If you are not quite ready to merge with another company or to offer your business as a franchise opportunity, perhaps you expand your offering. Maybe you have seen some success with your particular product or service, but there could be some potential success to tap into by diversifying your product or service line.

Take Your Business Online In the age we live in, viable businesses utilize the Internet as much as possible to build awareness and increase sales. Is your product or service the type that could be sold online? Do you show up high in applicable search engine results? Consider implementing a digital strategy as you seek to expand your business. Of course a business is only as good as who it employs. You want to make sure to employ only the best and most honest people that you can count on. TazWorks offers employee-screening software so you can learn more about the people that you hire. Employee screening can be a major part of your process as you seek to expand your business. Photo Credit: Trey Ratcliff, thinkpanama