Strategies for expanding your business

16 January 2014

So you’re thinking about expanding your business. Congratulations! That means you’re doing well enough to consider tackling new challenges and opportunities. It is important to make well-informed strategic decisions at this stage before you take such a big step.

Ask yourself:

Are your business processes streamlined for expansion?

Look at how your customers’ needs have changed over the past year or so. Consider evolving your offering (by either tweaking its current features or giving it a major overhaul) to draw more interest from loyal customers and attract new ones.

Question how your prospective customers differ from your existing ones? Do they have significantly different expectations and needs? Who else is competing for that customer base?

People, behaviours and culture, systems and operations, processes and procedures all play a part in delivering and ultimately differentiating your company, and it's offerings.

Decisions with a significant impact on a company's promise are often taken by operational or back office functions (IT, customer service, sales, etc) - with little or no reference to the intended experience and customer impact.  Engineering a great customer experience requires a considerable degree of cross functional collaboration.

Will the technology you have now support a successful expansion? You may need to plan for a comprehensive upgrade to your operational processes.

Remember profit or loss is made by your back office systems.

Why not call us on 01477 571940 to hear how we can help you streamline for expansion.