Expanding Your Business

Sales Growth puzzle pieces with Vision, Strategy, Tools and Execution connecting to achieve success and complete the picture of reaching a selling mission or objective

The term “growing the business” seems to be the term of choice for business people who discuss expansion. Unfortunately, in too many cases, this growing never goes beyond the seedling stage. Business people also talk about “thinking outside the box.” Again, that concept encompasses so much – what box? How far outside? – that it really can be an unfocused way of planning. So many random ideas can come out of such discussions and thinking that nothing really gets accomplished.

It might be a much better idea to focus on one small thing that would increase business. For example, you feel strongly that mailing a circular to your existing customer base or to the immediate neighborhood would increase business, but you never seem to have the time to do it. Why not plan on mailing 1,000 circulars to possible customers over the next 30 days? This means devoting about one hour, two or three times a week, to take this project to fruition. Don’t worry about next month – take one month at a time.

Since it’s said to take about 21 days to create a habit, several months should set the stage for the rest of the year. This will also help predict whether a mailing will indeed increase business. If it doesn’t, take the same time you did to work on the mailing and come up with another idea. What you have done is to “bank” the time you created for the mailing program so that it’s there for you to develop and implement the next plan.

A caveat: don’t work on something that you know you won’t finish, no matter how great the idea. For example, calling all the prospects for your product or service may be a great idea and one that would most likely expand the business. However, you know that is not what you like to do – so, forget it.

Implementing just one plan at a time and staying focused on it is the key. It may be easier to come up with 25 ideas outside the box, but if none ever get implemented, they might as well have stayed inside the box and never have been exposed to the light of day. Work on what you consider to be the best idea, and spend the same time you did on the mailing and develop it. It’s the habit of spending the one hour for two to three times a week that is critical. This creates time for a true growing of the business.

If you’re looking for help with expanding your business, call Colonial Business Brokerage.  In addition to being an innovative leader in the sale of privately held companies, we also have programs and workshops that are designed to build value in your business prior to sale. Our programs and workshops are designed to enhance areas within your business that drive up your company’s value, covering areas such as Profitability, Scalability, Recurring Revenue, Customer Satisfaction, Social Media Marketing and more.

Colonial Business Brokerage would love to help you sell your business, but we’d rather help you sell your VALUABLE business.  Give us a call or drop us an email and we can discuss how to expand your business and build value today.

Call Colonial Business Brokerage today at (443) 982-7332 or drop us a note here.

We look forward to hearing from you!

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