Planning the growth of your business
There are many reasons why you would want to grow your business: to fulfill your professional goals, to increase the value of your business, to keep pace with the market or to reach critical mass.
Whatever your motivation, you should think long and hard before deciding to grow. By planning your business’s growth, you’ll have better control over it and meet your objectives.
1. Determine how you want to grow your business.
- Increase your sales volume
- Boost your profit margin
2. Pursue the optimal strategy given your resources and objectives.
- Developing new products or services
- Market penetration strategy
- Market expansion strategy
- Diversification strategy
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