Reasons Why You Should Grow and Expand Your Business (Business Growth Series 1)
How important is it for you to grow and expand your business?
To be honest and sincere with you, dear entrepreneur, starting a business from scratch is not child’s play (if you currently own a business, you’d completely agree with me).
Growing and expanding the business is another herculean task altogether, but as herculean as the task may seem, it does pay when done right.
You are missing a lot as an entrepreneur if you are doing nothing to grow and expand your business.
Now, imagine Bill Gates and the Microsoft team did nothing to grow and expand outside of the United States, those of us here in Nigeria where many of us, computer users depend on Microsoft products would really feel it.
On the other hand, if they didn’t expand outside of the US, the Microsoft Corporation and their popular product, Windows would not be as much of a household name as it is today and consequently, Bill Gates wouldn’t be as rich as he is today.
Why you should grow and expand your business
Here are some reasons in my opinion, from my knowledge and experience why you should expand your business. Growing and expanding your business will help you:
Keep customers coming back
Improvement is a mark every fast growing and serious business.
One of the ways your customers judge your dedication and commitment towards satisfying their needs is by watching your metrics and statistics.
Using a simple example such as this website let me illustrate further.
If you kept visiting focalsuccess.com for a year and throughout that time period, there was not a significant increase in the number of fans that follow our Facebook page or in the number of monthly visitors we entertain, would you want to keep coming back?
You know the answer to that question.
I want to come to your company a week later expecting to see better services and improvements upon those things I wasn’t satisfied with.
That’s how I know you are committed to seeing my needs satisfied and my problems solved.
Every business wants to make profit whether monetary or non-monetary as in the case of social entrepreneurial ventures such as NGOs.
Expanding your business which could be through improvement of products and services, introduction of new products and services, increase in customer base geographical locations, market penetration, intensive or extensive strategies will help you maximize profit.
The more people know about your products and services and enjoy using them, the more money they are willing to pay to get their needs satisfied or their problems solved.
Develop a long-lasting brand image
Every business wants to develop a long-lasting brand that will become acclaimed world-wide and I’m sure you want that for your business too.
Building such an image and household name takes time and requires a lot patience, perseverance, consistency, and constant innovation.
You need to keep on growing, expanding, improving to keep attracting customers and converting them into loyal allies for your company.
Satisfied customers who have become loyal allies of your firm are one of the most effective advertising strategies for advertising your company.
They will always recommend your company when the products and services you sell are needed by their friends and those around them because they are also satisfied themselves with how you offer them those products or services.
Who doesn’t want all these for his or her business? Grow and expand your business continually and in the long run, you turn it into a mighty cash-flow asset.
Courtesy: Focal Success
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