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Strategies for Growing Your Small Business

Filed under Growth Strategies. Fact checked on May 25, 2012.

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From marketing and finance to operations and administration, every area of your business can benefit from these time-tested growth strategies.

If you're not busy growing your business, your competitors are busy growing theirs. To keep your business competitive, creating and following a growth strategy is imperative for the 21st century entrepreneur.

Growth encompasses many areas of business. As you assess which areas of your business are ripe for expansion, consider our list of growth strategy areas.

Start Up

  • Creating a Written Business Plan — If you haven't yet created a written business plan, this exercise will force you to write a general guideline for your business's growth.

Running a Business

Marketing

  • Building a Successful Marketing Plan — Focusing your marketing efforts on a few (or just one) key objectives is imperative for growth success.
  • Investing in Product Development — Even the most loyal customer will abandon ship if you're not properly steering your business's product development efforts while competitors are busy launching new products.
  • Generating and Evaluating New Product Ideas — From idea generation to product testing methods, learn what it takes to decide which ideas are with pitching or pursuing.
  • Embracing eCommerce — Your business can reach unbelievable heights by allocating time and money to your online business endeavors.

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