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Expanding Your Company 101

By   /  February 10, 2023  /  Comments Off on Expanding Your Company 101

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Growth and expansion are the two mainstays of any business plan that is focused on increasing profitability levels and ensuring longevity.

Whether you’ve been running your print business for many years and are looking for new and innovative methods of expanding your target market, or else are looking for confirmation that your expansion plans are going to work, then continue reading.

Implement an Overtime Rota

One of the simplest yet possibly most effective ways of expanding your reach is to implement an overtime rota, which will be very useful when you have a large order you would otherwise be struggling to complete. Instead of using agency or temporary workers, using your current employees who know the company, understand exactly what each job entails and who you know will maintain your high standards of quality control will ensure the job is completed properly.

More than that though, is the fact that this will give you the opportunity to analyze your workflow and assess the extension of the capacity you’ll need when you do take on new customers and clients.

Invest More Time & Money into Marketing

It certainly doesn’t take a business major to work out that the more potential clients and customers who become aware of the products and/or services your business offers, the more orders you’ll receive and the faster your business will grow and expand.

From contacting a prestigious and professional printing business such as Soyang Europe and building a contract between yourselves and them for top-quality and affordable large printing materials such as flyers and banners, to hiring a dedicated social media manager, there are plenty of positive and effective steps you can take to improve your marketing strategies.

Focus on Regular Clients

Another hugely important element of a business expansion plan is to not only concentrate on winning new customers, but also to focus on nurturing regular contracts and established sources of revenue too.

Consider starting a customer loyalty program, the likes of which will also stand you in good stead against your industry rivals and complement this with a referral program with potential discounts on large orders too.

Additionally, taking the time and using the right software packages to analyze your regular customers’ buying habits will also help you to generate a successful marketing campaign to reach more of the same type of consumers.

Protect Against Risks

Finally, remember that there’s very little point in spending so much time and money putting measures in place to quickly expand your company if you’re leaving the business wide open to risks.

In our modern world, cybercrime is one of the worst and most potentially damaging type of risk a company can face, not to mention the most expensive, so do ensure that you have protected your company against the theft of customer records, contamination of employee data and that all product designs are kept under the proverbial lock and key.

Additionally, if you’re currently running a relatively small business, a data breach such as those mentioned could even mean insolvency.

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