Wednesday, July 31, 2013

Tips for Expanding Your Small Business Operations

Your small business doesn't have to stay small forever. Acquiring new clients and expanding your market share can be done without spending a lot of money or hiring a lot of new employees. What are some good ways to expand your small business?

Take Advantage of the Internet

The Internet is a great resource for small business owners. Creating your own website can be used as a tool to expand market share without having to do anything other than maintain your site. You can set up your site to accept payments in multiple currencies as well as handle sales tax calculations.

Encourage Customer Referrals

An easy way to expand your business is to have current customers refer you to new customers. This is a powerful way to market your company without having to spend a dime on advertising costs. The best part is that your new customers will come to you with a positive attitude and will be ready to pay whatever you charge. When there isn't much to haggle about, you can get started with a paying client much sooner than you otherwise would.

Look For Government Grants and Tax Breaks

If you need to buy a new factory or a few new employees, there is a right way to accomplish that goal without spending too much. State and local governments will typically offer tax breaks to encourage hiring and building in a particular part of town. These grants and tax breaks can offset part or all of your expansion costs. This means that your company will experience an increase in profits right away.

Get Some Help

Virtual Office Chicago can help you need by providing a receptionist to answer and forward calls as you see fit no matter where you are in the world, this helps makes sure your growing business never misses a potential lead. In addition to a virtual receptionist a virtual office provides all the traditional business tools you'd expect at a fraction of the cost.

Offer Franchise Deals To Help You Expand

Franchising offers you the ability to let others operate their own business while helping you profit at the same time. Franchise owners will split their profits with you in exchange for using your brand name and products. The benefit to the business owner is that you don't have to cover all of the costs of expansion while being able to expand into markets that you otherwise wouldn't have been able to.

Automate and Innovate As Much As Possible

Automation can provide a huge boost to your productivity. Instead of answering calls all day, a machine can take messages for you. Instead of flying to meetings, hold them over the phone via a VoIP connection. The use of technology to automate and innovate can save your company a lot of money while allowing it to expand to new markets.

Expanding your company doesn't mean that you have to build a lot of factories and spend money on employees. All it means is that your company is gaining new customers and gaining a foothold in new markets. This will help your business make more money while helping to grow your brand.

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