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Small Business Growth
& Management Guide Introduction




After eating, sleeping and breathing your products and services for so long, it’s nice to see that all your hard work has finally paid off. However, there is much to be mindful of when taking the next great leap in life.

 

When you are first getting started, you will want to start off by creating a smart business growth strategy that involves the least amount of cost and risk. You’ll need to consider new markets to penetrate, new products to expand into, and new channels for marketing your goods. Integrative growth strategies like acquisitions and mergers offer new horizons for expansion -- although 75 percent of these strategies fail to deliver the predicted value, so tread cautiously, my friend.

 

As you expand, you will want to consider free ways to grow your company’s profits. Statistics show that the most frequent buyers account for the most sales, so it pays to develop a good loyalty program and reward the people who are most likely to tell their family, friends and social networks about your products and services. You will find that focusing on your core customers and asking for referrals are a few of the best strategies for driving big business – and, all in all, it doesn’t really cost very much to run this type of advertising strategy.  

 

Yet, what if you are a big thinker with ideas of buying new retail stores, expanding production, or developing new products? As the saying goes, “It takes money to make money.” Many companies in the growth stage want to learn how to finance growth through crowd-funding sites, loans, angel investors and banks. In this guide, you’ll learn how much money is available to small businesses from each different source and which types of financing are most popular. It can be a complex maze out there, but we will break it down and let you know specific websites where you can find financing and angel investors. Learn about equity and debt financing options for accessing capital to grow.

 

As you look for ways to expand your retail stores, remember that bigger isn’t always better. Conduct extensive and diligent research to learn from the mistakes of others and get on the fast-track for success. A growing business will need IT solutions to manage the expansion as seamlessly and effortlessly as possible. Many companies are investing in CRM software, accounting software and cloud computing at this time. This guide will let you know the popular types of technology and the brands that growing businesses prefer.

    

Remember that a burgeoning business is only as good as its executive-level management, which trickles down to the attitude of each and every employee. You may need to hire more staff members as your territory grows larger. Much can be learned from the faults of America’s worst managers-- and from the practices of the best managers too. Your growing business may face problems of retention, sluggish productivity or poor morale if your management is clueless, narcissistic or rude.  By contrast, hiring and training top-caliber managers can make your place of employment the type of environment that attracts top talent and becomes the envy of your competitors. Your emphasis on creating and sustaining a positive corporate culture will pay dividends as the company expands.

 

One thing you do not want to neglect as your company gets bigger is your office aesthetic. Consider how the organization of cubicles into work stations may benefit your organization. De-cluttering, cleaning and systematizing your workplace organization are especially important as you expand. Sometimes paperwork, additional desks and the added bodies can clutter a space and make life downright unpleasant for your workers. Consider tips for office organization to keep productivity soaring as you grow.

 

Innovative advertising ideas are at the heart of surging profits and territorial expansion. Learning how to market your products online and offline successfully and affordably will be paramount to your business’s long-term survival. There are always new mediums to explore – like social networking sites or mobile ad campaigns – but don’t forget about the basic personal human touches that create relationships and build referrals. Word-of-mouth advertising is truly the gift that keeps giving. You will also learn everything you need to know about mobile marketing in this small business growth and expansion guide.   

 

Sometimes increasing profits is not a matter of expansion or growth at all, but rather, shrinking our costs and becoming more introspective about how the internal business is run. There are countless ways to cut costs that will free up capital and make your business more sustainable in the long run. For instance, you may need to pare down your health insurance benefits, outsource certain tasks, or consider new technology that will save you money.  

 

The growth of your “baby” has a way of consuming your focus. Entrepreneurs, by nature, are passionate, excitable and obsessive about their work. Yet, you may find the need to develop life/work balance strategies as time goes on. The last thing you want to encounter is mid-life burnout, so keep in touch with your hobbies and family members – and, for Heaven’s sake, don’t forget about all that vacation time you’ve earned!

 

Making the leap from local to global is the ultimate sign of success, but you can really open up a can of worms if you don’t consider all the different factors involved in an overseas expansion. This helpful guide will provide you with a good starting point for researching markets in other countries and explain how companies like Coca-Cola and Kikkoman moved their brands strategically to capture over 60 percent of the market share in their respective industries.

 

The Small Business Growth and Management Guide is by no means comprehensive of every issue you will face or question you may have, but it lays the foundation for success during the transition from a small startup to a medium, large or international business.

 

 

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