February 3, 2016
5 Amazing Ways to Expand Your Business in 2016
Whether you are a new company just starting out this year or you have been around for many years, there is always room to grow. So, here are 5 amazing ways you can expand your business and make 2016 your best year yet!
1. Use ‘old school’ marketing techniques
This year put your focus back on traditional offline marketing techniques. This may not sound very ‘2016’ – why would you need to put a leaflet through someone’s door when you can send the same message out via email, social media or text message?
But, whilst there is no doubt that technology has grown and changed the way marketers work, for many companies it has done so at the expense of offline marketing.
As companies try to expand in the modern world, getting to grips with new forms of marketing and taking advantage of the growing number of smartphone users, they forget about the power of offline marketing.
So this year, don’t forget about digital marketing, but rather look at how you can combine the two. Find ways for them to complement each other, such as using your leaflets to advertise a promotion you are running via social media. Take a look at leaflet printing from Helloprint to get you started!
2. Don’t forget the importance of strategic planning
If you fail to plan, you’re planning to fail! So, take the time to look ahead, plan where you are going and how you are going to get there because without careful planning it will be difficult to grow your business. Set the company goals for the year, then at the end you can look back and feel a sense of achievement when you have perhaps not only achieved these, but surpassed them.
3. Rethink your workforce!
Your workforce is key to expanding and growing your business, so this is an extremely important area to re-evaluate. This doesn’t mean handing anyone his or her P45! In fact it means the opposite; investing in them. Provide your staff with training so they can grow within their role (which as a result will grow the business) get a better understanding of the company as a whole and perhaps pick up new skills along the way. As well as hiring new staff, you need to ensure you are using your current staff to their full potential.
4. Take risks
If you sit back and let your company go through the motions day in, day out, you will fall behind whilst your competitors get way ahead of you. Your company won’t only fail to expand, it will effectively become smaller. However, you don’t only want to keep up with your competitors, you want to get ahead of them and, in order to do this, you need to take a few risks.
This could include targeting a new market, being the first to experiment with new tools and platforms made available to you, or perhaps branching into new forms of content creation.
You want to stand out from the crowd and more importantly from your competitors. But always have a back up plan! You need to take risks in order to grow, but risks don’t always pay off – so be prepared for if this happens.
5. Collaborate with a business that will compliment yours
Create a partnership with a business that offers complimentary products and/or service to yours. A joint venture will result in business growth for both companies, as you provide each other with the key parts you were missing.
These are just 5 of the many ways you can expand your business this year, so think outside the box and you should see significant growth by the end of the year.