5 Business Growth Strategies that Work
Houston Advice for Women Entrepreneurs
These are the fundamental growth strategies that all businesses regardless of size, location, or industry can follow to drive new revenues.
1. Enhance Your Product: You can grow your small business by improving your product(s) or service(s) to offer something new or different.
2. Broaden Your Audience: Another strategy to grow your small business is to further penetrate the market you operate in by getting people outside of your current target audiences to start buying your product or service.
3. Expand Your Geography: Thanks to the internet, any small business can be a national or international business fairly easily. If you can offer your products and services across borders, then you can expand your small business beyond your local area. Keep in mind, this growth strategy requires a lot of research and planning. There are financial, insurance, tax, and legal implications that you need to consider fully!
4. Diversify Your Market: What market do you sell your products or services in? Could your brand do well in another market?
5. Develop New Products: When none of the above will work, you can develop completely new products or services that will appeal to your current customers and/or to new customers. In other words, new products can help you increase single customer purchases and generate purchases from customers who have never bought from your small business before.
Source: womenonbusiness
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
Houston Advice for Women Entrepreneurs.
Business consulting for women entrepreneurs in Houston, Advice for women entrepreneurs, Business Coach in Houston, Growth strategies for small business, Business coaching for women, Growth for women-owned businesses, Houston business coaching, Financial strategies for small business, Small business consulting in Houston, Business management consultant, Business, Consulting, Women, Entrepreneurs, Houston, Coach, Growth, Strategies, Coaching, Owned, Owner, Financial, Consulting, Management.
