5 things to think about when expanding your business

If you’ve got big plans to take your business to new heights, you’ve come to the right place. We’ve put together some of the things that you need to take into consideration when you’re expanding your business, from outsourcing the basics like cleaning to marketing and sales.

Dealing with increased demand

It’s all well and good deciding to expand your business and introducing new service offerings, but there’s no point if you can’t cope with increased demand. Whether you run an eCommerce business or a marketing agency, make sure you have the infrastructure in place to deal with more customers or orders. The best way is to take it slow and steady; don’t aim for the skies overnight, and instead, allow yourself to grow and evolve at a measured pace.

Day-to-day elements

If you’re planning to expand your team by hiring dozens of new staff, then you might want to think about the everyday elements such as cleaning and security. Rather than hiring even more staff to help you cope with increased demand on your office space, there’s real value in outsourcing some elements to a firm that offers facilities management services. Not only can it be more cost-effective, but it scales with your business and allows you to enjoy growth. 

Marketing your products and services

Something else you should think about before you launch an expansion plan is how you’re going to market your new products or services to a wider customer base. Of course, one of the ways that you can benefit is to outsource your social media marketing to an agency, so that they can grow your channels and give you one less thing to worry about. Other options include hosting launch events, introducing an affiliate program, and a white label scheme. 

Keeping existing customers happy

It’s a common problem: you’re spending all of your time on growing the business that you begin to neglect your existing clientele. It’s vital that you consider how your expansion will affect your current customer base, and put policies in place to protect them. For example, it’s a good idea to check in with clients every now and again or let them come to you by developing a knowledge base where they can find answers to commonly-asked questions.

Plan for the future

If you’re serious about growing your business and want to begin the process of expansion, it’s wise to take some time to think about the bigger picture and the future. For instance, where do you want to be in five years’ time? Is the plan to sell your business and move onto pastures new? Put a policy in place and set yourself some targets for the years ahead.