15 Strategies for Quickly Expanding Your Business (2022)

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Let's face it. Scaling your business is hard. It takes considerable effort. In the beginning, it means wearing different hats. It means dealing with sales and marketing. It means understanding taxes and corporate compliance. It involves having to interact with customers on a daily basis. And so much more. At the end of the day, it takes its toll on you.

15 Strategies for Quickly Expanding Your Business (1)Hero Images | Getty Images

If you're struggling to grow your business, there is light at the end of the tunnel. Sure, it's hard. But, what's the alternative? A life-sucking 9-to-5 job? Surely not. Okay, maybe you're longing for the security of a guaranteed paycheck. But, at what mental or emotional price will that come?

The truth? If you buckle down, clear your mind, and just look at things in perspective, you can easily identify ways you can grow your business and make more money quickly. While hundreds of business growth strategies likely exists, the following 15 will take your business to the next level quickly and efficiently.

Roland Frasier, a business growth strategist, has a unique approach to scaling businesses. As a principal of Digital Marketer and Native Commerce Media, and CEO of War Room Mastermind, he knows a thing or two about the online marketing world.

Frasier, who builds and scales seven, eight and nine-figure businesses tells me that there are loads of ways to grow a business quickly. But, only 15 core strategies that will truly make a real impact on your bottom line. Some are time intensive at the outset. That much should be expected. But, the benefits and profits will ultimately make them well worthwhile.

(Video) 15 Strategies for Quickly Expanding Your Business

Like anything else in life or in business, you have to put in the time if you're looking to reap the benefits. Don't focus on the short-term outcome of your work. Look to the long term. Build sincere value and look to help your customers. Genuinely care. That should be the foundation. After that, it's simply a matter of taking action and putting in the work to scale.

Related: 7 Mental Shifts That Allowed Me to Become a Millionaire at 22

1. Build a sales funnel.

The first way to quickly grow your business is by building a sales funnel. If you don't have a sales funnel, you're making a monumental mistake. Sales funnels can help to automate your business. It helps you to scale and grow quickly and easily. Sure, there's some front-end work involved. Obviously. But, once those processes are in place, it's smooth sailing from there.

Frasier says that every sales funnel needs to be carefully conceptualized before it's created. Consider the different funnels first and foremost. Whether it's a free-plus-shipping offer or a high-ticket coaching funnel, it's important to build your automated selling machine to quickly scale and grow your business.

2. Utilize a customer management system.

Manually tracking transactions is hard. No one wants to do that. It gets too cumbersome as the business grows. If you want to scale quickly, use a customer management system. There are plenty to choose from. But, it really depends on your line of work. Of course, cloud-based software like SalesForce is always a viable option.

Quickbooks can help you with the accounting. InfusionSoft can also assist with sales and marketing. There are plenty of CMS systems, most of which integrate with other cloud-based services. Find what works for you and utilize it.

(Video) 15 Strategies to Start and Grow Your Small Business

Related: How to Become a Millionaire by Age 30

3. Research the competition.

When going to market, and you're really looking to get your offer to the masses, you need to research the competition. Frasier says he uses two platforms to conduct his research. The first is Similar Web. The other, AdBeat. Both provide competitive intelligence. It's your chance for x-ray lenses into all landing pages, ad copy, and other stages of the funnel.

This allows you to uncover any advertiser's online strategy. Find the ads that have been running for the longest and emulate those. That's the quickest way you scale any business. If it's proven and it's working for your competitors, it's likely it'll work for you.

4. Create a customer loyalty program.

Loyalty programs are great ways to increase sales. It costs up to three times more money to acquire new customers than it does to sell something to an existing customer. Other resources pin this number anywhere from four to 10 times more. However, any way that you slice it, acquiring new customers is expensive.

Frasier says that building a customer loyalty program will help you retain customers. It might also help you attract new ones as well. If there's a clear incentive to spend more money with you, it'll pay off in the long run. Build an attractive loyalty program and make it accessible to your existing customers and watch sales skyrocket over time.

5. Identify new opportunities.

Analyze new opportunities in your business by understanding your demographic better. Understand everything from distribution channels to your direct competitors, and even an analysis of foreign markets and other potential industries. There are likely dozens of new opportunities you could pursue immediately with the proper amount of analysis.

(Video) Strategies For Quickly Expanding Your Business

Related: 25 Common Characteristics of Successful Entrepreneurs

6. Build an email list.

One of the most best and most effective ways to grow a business quickly is to build an email list. Clearly, that means you need to have a lead magnet. Why else would people subscribe to your list? And, with a lead magnet, comes the necessity for a sales funnel. Look into companies like Aweber, ConstantContact, ConvertKit, Drip, GetResponse and others for building and managing your list.

7. Form strategic partnerships.

Strategic partnerships with the right companies can truly make a world of difference. It could allow you to reach a wide swath of customers quickly. Identifying those partnerships might be easier said than done. But, look out for companies that are complementary to your own. Contact them and propose opportunities for working together.

8. Leverage global platforms.

In the ecommerce business selling products? Why not use Amazon's FBA service? In the business of selling services? Why not use Upwork? In the business of renting vacation homes? Why not leverage AirBnB, InvitedHome, HomeAway or other global platforms? Find a platform that's reached saturation and use it to grow your business quickly.

9. Licensing deals

Doing licensing deals is a great way to grow your business without too much added effort. If you have a product that you can license to others and share a revenue of, that's an ideal way to grow quickly. Taking a popular or successful product and bringing it to a company with a large footprint can help you achieve market saturation quicker.

Related: I Started Saying 'No' to These 6 Things. My Life and My Business Got a Lot Better.

(Video) 7 Strategies to Grow Your Business | Brian Tracy

10. Consider a franchise model.

If you have a successful business, and you're really looking to grow quickly, consider franchising it. Although franchise costs are high and moving to a franchise model is complex and takes a lot of marketing know-how, it could make all the difference if you're truly looking for quick growth.

11. Diversify your offer lineup.

Look into diversifying your offers. What complementary products or services or information can you offer in your business? In order to grow, you need to think about expansion. Identify new opportunities within your niche. Uncover the pain points. What else can you sell to your clients. Where else can you add value in the exchange?

Related: 9 Steps to Increase the Value of Your Business

12. Build passive income streams.

Growing a business takes significant effort. If you're dealing with razor-thin margins, consider building passive income streams. This way, you don't have to worry so much about keeping the lights on, so to speak. Passive income will afford you the opportunity to make mistakes and not have to lose your shirt. It'll keep you in business and provide a basis to grow and market and scale quickly by giving you ample resources.

13. Acquire other businesses.

Sometimes, acquiring other businesses is a very quick way to grow your own business. If you can find competitors or businesses in other industries that would complement your own, you could use them as platforms to scale fast. Take a look within your industry and even outside of it to find potential for potential opportunities.

14. International expansion.

Can you expand internationally? Can you take your existing offers and scale them internationally? What would it take to do business in Canada or Mexico or Europe? If you have a converting offer, international expansion could be a quick way to grow. You'll incur some costs. Sure. But, the potential for profits could be massive.

(Video) 15 eCommerce Marketing Strategies To GROW Your Business

15. Create a webinar.

Webinars are a great way to promote any product or service. It can also help you grow any business relatively fast. Webinars provide an automated selling tool for literally taking any product or service to market and reaching a wide audience quickly. The webinar medium is great for captivating audiences to clinch sale after sale, automatically.

FAQs

How can I expand my business quickly? ›

Although growing your small business will take time and energy, there are 10 strategies you can use to help accelerate business growth.
  1. Do Your Research. ...
  2. Build a Sales Funnel. ...
  3. Increase Customer Retention. ...
  4. Participate in Networking Events. ...
  5. Practice Corporate Social Responsibility. ...
  6. Form Strategic Partnerships.

What are the 8 ways to grow your business? ›

8 ways to grow your business
  • Get to know your customers. ...
  • Offer excellent customer service. ...
  • Nurture existing customers and look for new opportunities. ...
  • Use social media. ...
  • Attend networking events. ...
  • Host events. ...
  • Give back to your community. ...
  • Measure what works and refine your approach as you go.

What are the 10 ways to improve business practices? ›

10 THINGS YOU CAN DO TO IMPROVE YOUR BUSINESS RIGHT NOW
  1. Identify your critical success factors. ...
  2. Keep score. ...
  3. Learn from the best. ...
  4. Create the future. ...
  5. Involve your people. ...
  6. Set goals. ...
  7. Make a plan.
  8. Develop systems.

What are the strategies to improve business? ›

Set clear goals

specific – state clearly what you want to achieve. measurable – make sure you can evaluate success. achievable – check your objective is something you have the time and resources to meet. relevant – make sure your objectives improve profit drivers and improve some part of your business.

What are the 4 growth strategies? ›

The four growth strategies

These are Product, Placement, Promotion and Price. Where the Four Ps focus on audiences, channels & pricing, the Ansoff Matrix is more effective for a broader view of markets and uses the older Four P framework within each of the 4 Ansoff quadrants.

What are the 4 types of business growth? ›

The four growth strategies
  • Market penetration. The aim of this strategy is to increase sales of existing products or services on existing markets, and thus to increase your market share. ...
  • Market development. ...
  • Product development. ...
  • Diversification.

What makes a small business successful? ›

Successful small businesses are customer-focused, which means they understand the needs of their current customer bases. Satisfied customers can drive profits through repeat business and referrals.

What are the keys to a successful business? ›

Keys to success
  • Be organized. It won't be easier for you to make your business succeed if you are not organized. ...
  • Analyze your competitors. ...
  • Understand the risks and rewards. ...
  • Be consistent. ...
  • Hire the right employees. ...
  • Be willing to make sacrifices. ...
  • Be creative. ...
  • Keep detailed records.
16 Apr 2021

What are common business strategies? ›

Here are 10 examples of great business strategies:
  • Cross-sell more products. ...
  • Most innovative product or service. ...
  • Grow sales from new products. ...
  • Improve customer service. ...
  • Cornering a young market. ...
  • Product differentiation. ...
  • Pricing strategies. ...
  • Technological advantage.

How can I grow my business in 2022? ›

How to Grow Your Business in 2022?
  1. Build a Strategy for Success. ...
  2. Boost the Online Presence of Your Business. ...
  3. Focus on Educating, Not Hard-Selling. ...
  4. Create High-Quality Content, but Keep It Simple and Clear. ...
  5. Organize Online Events. ...
  6. Focus on Personalization. ...
  7. Prioritize Customer Service.

How do you grow in a company? ›

How to grow within a company
  1. Determine your path. The first step to grow within the company is to ask yourself what you would like to achieve. ...
  2. Communicate your goals with your supervisor. ...
  3. Devoting outside time to growth. ...
  4. Continuing your education. ...
  5. Ask for a bigger challenge. ...
  6. Work with the team. ...
  7. Assess areas for improvement.
26 Apr 2021

How can a business increase sales? ›

  1. Be Present With Clients And Prospects. ...
  2. Look At Product-To-Market Fit. ...
  3. Have A Unique Value Proposition. ...
  4. Have Consistent Marketing Strategies. ...
  5. Increase Cart Value And Purchase Frequency. ...
  6. Focus On Existing Customers. ...
  7. Focus On Why Customers Buy. ...
  8. Upsell An Additional Service.
30 Mar 2021

What are three ways to increase productivity in business? ›

Top strategies for increasing business productivity
  1. Keep things simple.
  2. Set reminders.
  3. Review goals daily (or at least regularly)
  4. Minimize time-wasting activities.
  5. Use productivity apps.
  6. Motivate your team.
  7. Avoid multitasking.
  8. Offer a wellness program.

What is a good growth strategy? ›

A growth strategy allows companies to expand their business. Growth can be achieved by practices like adding new locations, investing in customer acquisition, or expanding a product line. A company's industry and target market influence which growth strategies it will choose.

What are the key growth strategies? ›

Some common growth strategies in business include market penetration, market expansion, product expansion, diversification and acquisition.

How do I take my business to the next level? ›

21 Expert Tips To Take Your Business To The Next Level
  1. Reach customers in more ways than one. ...
  2. Find employees eager for a second chance. ...
  3. Use a 60/20/20 approach to time management. ...
  4. Dig deep into your numbers. ...
  5. Build and leverage strong cybersecurity. ...
  6. Make strategic acquisitions. ...
  7. Create a business toolbox.
3 Apr 2019

What are the 7 business life cycle stages? ›

The business life cycle is the progression of a business in phases over time and is most commonly divided into five stages: launch, growth, shake-out, maturity, and decline. The cycle is shown on a graph with the horizontal axis as time and the vertical axis as dollars or various financial metrics.

What are the 5 stages of business growth? ›

Every new business and start-up, big or small, goes through the five stages of business growth. These phases include existence, survival, success, take-off, and resource maturity.

What are the seven levels of business growth? ›

The seed, startup, growth, established, expansion, maturity, and exit stages. Each stage of growth in business is important because businesses are known to face different challenges at each stage. They also require different financial management practices at each stage to survive.

What are the 4 pillars of business? ›

Every business needs a handle on the four pillars of business: management, marketing, operations and finance.

What are the 5 factors that influence business success? ›

10 factors that contribute to business success
  • Set a business goal. ...
  • Understand Your Customer Needs. ...
  • Research your competition. ...
  • Attract and retain the right talent. ...
  • Be transparent with your team. ...
  • Become a decisive leader. ...
  • Learn to be patient. ...
  • Keep business documents.
5 Oct 2021

What are the seven rules for building a successful business? ›

7 Rules To Build A Wildly Successful Business
  • Go from small to big.
  • Commit to what you are doing.
  • Don't forget about defining your goals.
  • Do business with other people.
  • Exceed your customers' expectations.
  • Control your expenses better than your competition.
  • Go the other way.
1 Oct 2018

What is most important in a business? ›

That person is the energy, the focus, the motivation, and the unwavering leadership of YOUR company. So it stands to reason that the most important person in your business is YOU. Some people might say that the most important person is your best employee, your best customer, your best salesperson, or your best vendor.

What are the 10 business strategy with examples? ›

10 Examples of effective business strategies
  • Technological advantage. ...
  • Improve customer retention. ...
  • Improve customer service. ...
  • Cross-selling products. ...
  • Increase sales from new products. ...
  • Innovation and pushing boundaries. ...
  • Product diversity. ...
  • Price point strategising.
8 Feb 2022

What are 5 business strategies? ›

Summary : There are only five business strategies: cost, quality, distribution, technology, and intellectual property (IP). All business strategies break down into these five, or some combination of them. As a general principle, focusing your organization on one is the easiest to execute.

What are the 3 main strategies in business? ›

Key Points

According to Porter's Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.

How can I get customers? ›

10 Ways to Get New Customers
  1. Ask for referrals. ...
  2. Network. ...
  3. Offer discounts and incentives for new customers only. ...
  4. Re-contact old customers. ...
  5. Improve your website. ...
  6. Partner with complementary businesses. ...
  7. Promote your expertise. ...
  8. Use online reviews to your advantage.
6 Apr 2017

How can an entrepreneur be smart? ›

9 Things Exceptionally Smart Entrepreneurs Do to Be Successful
  1. Takes calculated steps toward their goals each day. ...
  2. Concentrates on what they do best. ...
  3. Sees every problem as an opportunity. ...
  4. Steps out of their comfort zones on a regular basis. ...
  5. Open to learning more. ...
  6. Keeps track of short-term and long-term goals.
21 Jul 2014

How do you help your team grow professionally? ›

10 Effective Ways to Help Your Employees Grow
  1. Provide Professional Coaching.
  2. Offer Regular Feedback.
  3. Cross-Train Staff.
  4. Conferencing and Networking.
  5. Recognize Achievements.
  6. Soft Skill Development.
  7. Create Challenging Projects.
  8. Learning Management Systems.
24 Nov 2021

How can I grow along with my business? ›

6 Ways to Grow With Your Company
  1. Surround yourself with trusted individuals. I am not referring to your mom or best friend. ...
  2. Take a deep breath. Don't rush into decisions, no matter how urgent they seem. ...
  3. Reflect on the mistakes. ...
  4. Set up clear communication channels. ...
  5. Utilize an executive coach. ...
  6. Know yourself.
12 Jul 2013

What are the 4 selling strategies? ›

The four basic sales strategies salespeople use are script-based selling, needs-satisfaction selling, consultative selling, and strategic-partner selling. Different strategies can be used with in different types of relationships.

How can I sell my product fast? ›

How to Market a Product: 24 Effective Marketing Tips to Skyrocket...
  1. Know Your Audience.
  2. Start with Niche Marketing.
  3. Build Strong Customer Relationships.
  4. Elicit an Emotional Response.
  5. Personalize the Experience.
  6. Creating Gift Guides. 2 How To Sell A Product.
  7. Guest Blogging.
  8. Reuse Customer Generated Content.
13 Jun 2019

How can you improve marketing? ›

Marketing Strategies to Grow Your Audience
  1. Start with what you know. ...
  2. Use social media to engage audiences. ...
  3. Focus on audience preferences. ...
  4. Use postcards to stand out. ...
  5. Expand your landing page traffic. ...
  6. Team up with complementary businesses. ...
  7. Create an omnichannel marketing strategy.

How can I sell my small business fast? ›

How to Sell a Business Fast: 7 Steps for Selling Your Business Quickly
  1. Review of Accounting Records. ...
  2. Business Operations Documented. ...
  3. Have a Marketing Plan. ...
  4. Hire a Business Broker. ...
  5. Plan to Target Buyer Prospects. ...
  6. Plan for Due Diligence. ...
  7. Collaborate for Successful Transition.

What kind of small business is most profitable? ›

Most Profitable Business Ideas
  • Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  • IT Support, Technology Consulting, and Repair. ...
  • Cleaning Services. ...
  • Accounting and Tax Preparation. ...
  • Auto Repair. ...
  • Real Estate. ...
  • Online courses. ...
  • Marketing and PR Services.

How do entrepreneur expand their business? ›

Common routes of small business expansion include: Growth through acquisition of another existing business (almost always smaller in size) Offering franchise ownership to other entrepreneurs. Licensing of intellectual property to third parties.

How can you attract customers? ›

5 Tips for Attracting New Customers
  1. Identify Your Ideal New Customers. ...
  2. Use Direct Response Marketing to Attract Customers. ...
  3. Give Something Away to Entice New Customers. ...
  4. Give Your Business a Face Lift to Increase Sales. ...
  5. Get The (Right) Word Out.

What makes a small business successful? ›

Successful small businesses are customer-focused, which means they understand the needs of their current customer bases. Satisfied customers can drive profits through repeat business and referrals.

What makes a business successful? ›

“One thing successful businesses have in common is … a strong customer focus,” said John Stevenson, marketing specialist at My GRE Exam Preparation. “They create a culture that is centered around their customers and focus their processes, products and services around their services needs.

How do you sell a successful business? ›

If you're considering selling your small business, consider these seven steps to stay on the offensive.
  1. Determine the value of your company. ...
  2. Clean up your small business financials. ...
  3. Prepare your exit strategy in advance. ...
  4. Boost your sales. ...
  5. Find a business broker. ...
  6. Pre-qualify your buyers. ...
  7. Get business contracts in order.
3 Jan 2014

How do I sell my startup? ›

Here are her top tips for entrepreneurs hoping to launch and sell their own startup.
  1. Leverage Your Network. ...
  2. Create Buzz by Approaching Investors Indirectly. ...
  3. Be Resilient in Your Search for Funding. ...
  4. Make Sure Perception of Your Company Matches Reality. ...
  5. Build Relationships With Potential Buyers... ...
  6. 6. ...

What are the top 10 most successful small businesses? ›

Most profitable small businesses
  1. Food trucks. ...
  2. Car wash services. ...
  3. Auto repair. ...
  4. Personal trainers. ...
  5. Newborn and post-pregnancy services.
3 May 2022

What are the 10 business ideas? ›

Best Small Business Ideas
  • Handyman. Image Source. ...
  • Woodworker. ...
  • Online Dating Consultant. ...
  • Sewing and Alteration Specialist. ...
  • Freelance Developer. ...
  • Personal Trainer. ...
  • Freelance Graphic Designer. ...
  • Life/ Career Coach.
5 days ago

How do I 10X my business? ›

Put very simply, the 10X rule is taking any goal you've set for your company or sales team, and multiplying it by 10. So if a goal is to increase revenue by 5%, using the 10X rule, you'd increase that goal to 50%.

What are the methods of expansion? ›

Methods of expansion
  • Internal (organic) growth - the business grows by hiring more staff and equipment to increase its output .
  • External growth - where a business merges with or takes over another organisation. ...
  • Franchising - where a business leases its idea to franchisees.

How do you expand success? ›

You'll need to increase inventory and marketing.
...
Six ways to grow your small business to the next level
  1. Sell more to your existing customer base. ...
  2. Add products or services. ...
  3. Boost your marketing. ...
  4. Horizontal expansion. ...
  5. Vertical integration. ...
  6. Help other companies outsource. ...
  7. Preparing for growth: Are you ready?
4 Sept 2019

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