Expansion is the main goal of almost every business. It doesn’t matter if it’s a for-profit business, a cafe, a movie theater, or a pizza shop, expanding your net of potential customers is what keeps a business from going bankrupt. As businesses get bigger, they expand more and therefore need more management to stay in line with the initial ideals of the company.
In this article, we show you where to look when hoping to grow your business, and ways in which you can grow yours.
With more offices or corporate business ventures, office space is a must. Your employees need space to work, yes, but productivity also increases when people are immersed (figuratively) in the work culture. When people can interact directly with others who are also working on business for the same company at the same time, it makes them more focused, and some even see it as a challenge to test their productivity against their coworkers. worker. Office space, however, can be expensive, especially if you want to accommodate a large number of workers in one area at a time, and the costs can add up quickly and outweigh the benefits.
A neat solution to this fallout is to take advantage of google docs’ many live-hangout-esque areas to set up a work setting where people can interact as if they were in an office without having to be in the actual office. This can be complemented by setting up a virtual office space to interact with your clients and customers, making it appear like you have an actual physical office in a key part of your hometown without the associated costs of a real office.
Partnerships often form in the public eye for one-off events or for publicity, such as when Coca Cola partnered with the Olympics to release a wide variety of bottle designs. This is a good business tactic, as it shows that the business is willing to commit to a cause, and that they agree with whatever their partner company does. The flip side of this is that the companies doing the partnership are often the “giving” partners, and therefore additional costs are incurred for them, while the partnering companies are often the “takers”, and must have something to offer in return. .
This doesn’t just happen in big business, there are lots of great ways that partnerships can impact small businesses, too. If you are a restaurant owner, and you donate a large amount of money to a local football club, you can often be the right person to service the club, or you may be included in a commercial for a game show. This will help spread the word for your restaurant beyond what you normally have access to, and is therefore well worth the money.
As a general rule, pop-up shops are a relatively new concept. The idea of taking a store that normally doesn’t exist and making a place for it suddenly and for a limited time is genius for multiple clothing lines and food chainsbecause location exclusivity mixes with limited-edition merchandise or food (often) too good for many to pass up, and they end up making purchases they would not have made.
This is a great idea for almost any business, and especially many small businesses, because it helps spread the brand without having to worry about hiring new staff, setting up a permanent location, signing leases, and so on. For corporate businesses, pop-up shops are a little more difficult to do, as the location of the office doesn’t really impact the amount of business that comes in, but if you have a small business that has a unique product, the possibilities for expansion are phenomenal.
Expansion in business is the key to long-term success, and the fortunes of many medium-sized businesses have been made or lost because of the effort expended in long-term business expansion. Whether you’re creating a pop-up shop in the middle of New York City, or partnering your cafe with a nearby bowl club to enable coffee deliveries, or going to http://www.servcorp.com.sg/en/ to set up a virtual office space, expansion is the key to the future of your business.