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National or international expansion

When expanding your business bigger, obstacles can become bigger. When expanding nationally and internationally you have to take into account that the product or service you are offering may not be as in demand as it is in your local business. If you set up expansion nationally or internationally it can be harder to control and tend to the specific needs of each different location of business you have. Taking your time and planning meticulously is crucial when expanding on national or international levels.

Growing Your Business.

 iBusiness Blog - biz expand growth

Setting Goals

Small and large business’ can both benefit from setting goals annually, monthly, weekly and even by coaching their employees to set goals daily. Setting goals can ensure that you define a vision for your business over a course of time and steer its progression through the smaller rangers of times such as weeks, months etc.  At the beginning of each year it can always be beneficial to review your last year and craft your ideas on how you would like to progress over the next year. This way you can have a vision of where you want your business to be heading, each month its useful to review what you’ve achieved as this will give you a better understanding of what is needed week in, week out at your workplace. If you set yourself hard but achievable goals you will see your business progress closer and closer to your largest goals.

Relocation

Key to every business is the correct workplace, somewhere that will accommodate the workforce and stock that your company possesses. Therefore the decision to relocate should not be taken lightly and should be more than just moving into the first available place. It should be strategic. By this I mean it should benefit your business rather than just accommodate it. When looking for a suitable workplace, offices come in all different shapes and sizes, offering different things to your business. Forward thinking can be crucial, as you are constantly expanding, go somewhere that allows you to expand even further if needs be, or that will offer you knew facilities that can assist you. Be careful not to end up caught in an office that isn’t right for you, or that is too much financially. Make a well thought out decision as to where you think your business will be best suited and don’t rush you’re relocation.

Physical and virtual help

This can be a tough decision for business’ of all sizes. Outsourcing the skills you need as and when you need them can be a very useful for your business. It allows you to acquire a particular skillset for a particular job you need done. However it is a short-term process, it doesn’t give you those skills permanently and your outsourcing partner may lose the focus you wish to have on the task they are given. There are lots of places that can offer to help with this like Smart PA of offer virtual assistants and pa services which can be a great alternative to employing and you don’t have to make a work space for them as they can work remotely.  Employment on the other hand, is a more permanent option. You can employ someone with the particular skills you need and utilise them whenever necessary as they work for you. The weakness with this process is if the type of work you need doing is only temporary, you may be paying wages for someone whose skillset is being underutilised. If their skillset remains in demand though, it is a useful move for progression into the future. If you do look to employ then you will want to do so quickly and efficient as it can cost a lot of money and take a lot of time. Flat fee recruitment might be an option as this way you limit the cost as some recruitment agencies charge an astronomical amount to recruit.  Companies like Hiring People offer cheap online recruitment by posting the job on 100 job boards from just £169 which could prove to be a more financially viable option.

Assess your options. This is key, as the owner of a business you have to make some key decisions – the type of decisions that can get you work or lose you work. Although this is a broad idea, you can apply it to every decision you make with your business, it may see your business reap rewards you didn’t even consider beforehand. Assessing your options can reveal opportunities for your business that seemed obscure at first glance. This type of thinking will drive your business forward whilst still keeping you in control, you steering your business towards its ultimate destination.

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