How do you choose your next move to expand your business? You could take what is already working for you and expand your reach, go deeper to saturate your local market, or even add a new revenue stream altogether. Don’t stress, there is help for you. Read on to learn three ways that you can expand your business that you may not have thought of.
Dive into eCommerce
E-commerce is mandatory. No matter what type of business you have, if you do not have an online presence then you are missing out on opportunities. Even if you are in a service business or have a brick-and mortar-store, get creative and offer on-brand, coinciding physical products via an online store. Drop shipping is a simple way to sell products online with no inventory and minimal upfront investment. You can literally reach a whole new world with e-commerce, selling products and using drop shipping for order fulfillment.
Become a Media Company
Does becoming a media company sound extreme? In our modern culture, every business needs to be a media company first and foremost. Use content marketing to offer free value through education. You will build trust, create a more robust targeted audience and leverage this relationship to present paid offerings. Remember, the key to being successful in this realm is authenticity. Transparency is key, or your media outreach efforts can backfire.
Become a Franchise
If your business meets certain markers for franchise success, then franchising might be the smartest way for you to hit that next level. Franchising is perfect for a business that has been designed from inception with systems that can be replicated and a streamlined business model. Keep in mind that franchising comes hand in hand with following and implementing many rules and regulations, so if you are OK with this and enjoy managing the operational aspects of business, then exploring the world of franchising is a logical idea that can take your business to the next level.
Growing to the next level is an exciting time for any business. However, one of the top reasons businesses fail is because they try to expand too fast. Anytime you add an element to your business, keep the end in mind. Create systems that can be replicated and grow them slowly for the best chance of success.
Are you a business owner itching to hit that next level, ready to claim your fair share of the market? Flash Forward Sites has experience in creating websites, social media management, and more services that can help your business grow!