5 Ways To Expand Your Business

5 Ways To Expand Your Business

3 min

There were times when Gujjus were all about business. Well now, either everyone has gone Gujju, or something out of this planet happened. Never mind. The start-up culture is taking up, and with new ideas popping out of nowhere, people are putting everything they possess on the line- Money, Time and Opportunity. So if you’ve taken the big leap, and have started well off the ground, it’s time to make it big. Really, really big.

So, assuming that your business has gone through its initial ups and down, and still with the enthusiasm of a start-up but the attitude of a professional, you want to swim new waters, probably larger ones, here’re some tips:

1. Business Cards. Meet-ups.

So, Newtwork Network Network. The more people know about it, the better. You can never sniff a person whether he or she is a potential customer or not. Go to those conclaves, talk about it on Social Media, try getting featured in that magazine, attend those workshops, and mind one thing, everywhere you go, carry that little white thing of yours (or whatever color it has)- the business card. Never leave a person which just a hand-shake. Everyone you know, meet, see, hear, should have your Business card.

Tip: You can check our friend’s website The Business Printers for business card printing.

2. If you’re online, create pool for online promotion.

There isn’t anything as accurate as Digital Marketing. Accurate, Cost Effective and Traceable. So one may say, it works, when done correctly. Add a blog to your website, and make it more engaging. Don’t sound desperate for customers. Always have that dignified sound that you’re proud of your offered services, and are open for business. Simple as that.

3. Collaborate.

This may mean- A joint venture, Merger and Acquisitions or Simple project based partnerships. Joint Venture and Acquisitions might be a costly affair for many, but collaborating for a particular project will give you the synergy and added advantage. And always try to be in collaboration with people who are in the sub-trade of your business. For example, if you’re an online marketplace, how about partnering with a logistics firm? You may do it on profit-sharing basis. Buy minor equity in theirs, give some of yours, and make it a strategic marriage which looks great in the market, but whose real beauty lies on the Balance Sheet.

4. If you’ve ever studied Business Administration, you’ll know this: Licensing, Franchising, Joint Venturing, Foreign Representation.

License one your products, or franchise one of your offices. Enter foreign markets, this is one of the most powerful ideas. (Example: Zomato. Watch and Learn!)

5. Diversification.

If you can sellsugarcane, try a hand with sugar! Now, don’t start a sugar mill! Minor diversifications are healthy, and great ways to test new markets, and who knows, it may entirely drive the locus of control of your business. (Flipkart was started to sell books line!)

That said and done, never ever follow the trend. Analyze the situation of your business. Be honest to your team and consumers, always be creative and innovate as much as you can (well actually, there’s no limit to it.), bring people with enough creativity and dedication on board, and persevere. Success is standing right there. Waiting for you.

Shardul Makwe

Some collect money. Some collect memories. I collect stories. They aren't right or wrong. They just are. I'm a story teller. What's your story?