Widening Your Net – Where to Look When Hoping to Expand Your Business

Expansion is the main goal of almost every business. No matter if it’s a not-for-profit business, a cafe, a cinema or a pizza shop, widening their net of potential customers is what keeps the business from going under. As businesses get larger, their expansions become more numerous and therefore require more management to keep in line with the original ideals of the company.

In this article, we show where to look when hoping to expand your business, and the ways in which you can expand your business.

Office Spaces

Office Spaces

With more office or corporate business ventures, office spaces are a must. Your employees need room to work, yes, but also productivity is increased when people are submerged (figuratively) in a culture of work. When people are able to interact directly with other people who are also working on business matters for the same company at the same time, it focuses them more, and some even see it as a challenge with which they can test their productivity against their co-workers. Office spaces, however, can be expensive, especially if you’re looking to house many workers in an area at once, and the costs can quickly stack up and outweigh the benefits.

A neat solution to this downfall is to utilize the many live-hangout esque areas of google documents to arrange work settings in which people can interact as if in an office without having to be in an actual office. This can be complemented by setting up a virtual office space for your clients and customers to interact with, making it seem like you have an actual physical office in a key part of your home city without the associated costs of an actual office.

Partnerships

Partnerships are often formed in the public eye for one-time events or for publicity, such as when Coca Cola partnered with the olympics to release many different kinds of bottle design. These are good business tactics, as they show a business is willing to commit to a cause, and that they are on-board with whatever their partner-company is doing. The flip-side to this is that the company doing the partnering is often the “giving” partner, and as such there is a greater out-of-pocket cost for them, while the company being partnered with is often the “receiver”, and has to have something to offer in return.

This isn’t just the case in big business, either, there are many great ways that partnerships can affect small business too. If you are a restaurant owner, and you donate a significant amount of money to a local football club, you can often become the go-to for catering for the club, or you might be included in the advertising for the game events. This will help spread the word for your restaurant beyond what you would usually have access to, and therefore is worth the money spent in the first place.

Pop-Up Stores

As a general rule, pop-up stores are a relatively new concept. The idea of taking a store that is not usually around and making a place for it all of a sudden and for a limited time is a stroke of genius for many clothing lines and food chains, as the exclusivity of the location mixed with the (often) limited edition merchandise or food is too good a chance to pass up for many people, and they end up making purchases they otherwise wouldn’t.

This is a great idea for nearly any business, and especially many small ones, as it helps spread the brand without having to worry about hiring new staff, getting permanent locations organised, signing leases and so-on. For the corporate business, pop-up stores are a little harder to do, as the location of the offices do very little to affect the amount of business coming in, but if you own a smaller business that has a unique product, the possibility for expansion is phenomenal.

Expansion in business is key to long-term success, and the fate of many mid-sized businesses have been made or lost on the effort expended in long-term expansion of the business. Whether you’re making a pop-up store in the middle of New York City, or partnering up your cafe with the nearby bowls club to allow for coffee deliveries, or going to http://www.servcorp.com.sg/en/ to organise for a virtual office space, expansion is key to the future of your business.

Editorial Team
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