How do you define growth? While some have a goal of an increase in sales, others look for new product or a larger customer base. Consider these questions when thinking about growth and your type of business. Can growth be achieved by:
– selling more of your existing products to former or existing customers?
– selling new products or services to previous and existing customers?
– finding new markets for your present products?
– developing new products or services for new groups of customers?
Each of these options have strategies that can propel your business to the next level. A business’ strategic plan would include stepping stones, a clear path to your desired outcome. Consult with your business advisor to begin! They will also recommend timing and sources of financial assistance and help anticipate cash requirements and financial risk .