Archive for August 28, 2009

Growing Your Business (Part 5) by Robert Finkelstein

Posted in General Management, Grow Your Business with tags , , , , , , , on August 28, 2009 by Robert Finkelstein

Grow Your BusinessMoving right along, our list of ways to grow your business continues to…for lack of another word…grow. Locations, franchising, licensing, diversifying…what’s next you ask?

Other markets
BusinessDo you have a brick and mortar? Are you an e-commerce business? Perhaps my question should be, “What type of business are you not?” The answer to that question might be your next area of expansion. So many options here – Online, storefront, domestic, international, call centers, conventions, sales representatives, and on and on. Then of course you can consider focusing on a different demographic – adults, college kids, teens, special interest groups, baby boomers, elderly, and on and on. Who have you not targeted? The posibilities here are vast…or re-read Growing Your Business (Parts 1-4) for other suggestions.

Government contract
Government contractsRegrettably, I don’t know too much about this, but what I do know is that the US government is that largest buyer of goods and services in the world – to the tune of about $250 billion. Get in good with them, and you’re expansion might be locked and loaded. Now it’s not easy. Lots of paperwork and regulations, but again, worth it. Once you’re granted a government contract, there’s little competition from outside marketplaces. Check it out. Uncle Sam might want what you’re selling.

Still more ideas to come. Hope your entrepreneurial ideas are flowing.

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