3 Things to Remember When Expanding Your Business

For many of us, 2022 is going to be a year of growth. We’re focused on improving our lives and growing our businesses like never before. If you’re looking to expand your business in 2022, then there are some things you’re going to want to keep in mind to ensure that the process is easy, and that there is as little disruption as possible to your business and employees. Here are 3 things to remember when expanding your business, so that your business can grow and reach its full potential.

1. Can You Handle the Business You Have Already
One mistake I see many business owners make is that they try to grow before they’ve got a good grip on the business they already have. This can result in compromised services or products, customer dissatisfaction, and in the end things end up going in the opposite direction they had hoped for. It’s really important to be realistic about whether now is a good time to grow. If you’re considering new locations, you might also need to consider logistical concerns such as using phoenix moving companies to help relocate your manager to manage the new office. Getting honest about whether you’re handling the business you have already can be a great way to see if you’re ready for an expansion.

2. Is It Worth Focusing Online
If you’re considering opening up another physical store or office, is there any value in focusing your energy online. For example, for a vineyard owner it may make more sense to focus any expansion efforts on the online market rather than trying to manage the lofty task of finding a new vineyard to buy. Look at the wonderful example Evokewinery.com have made with their gift set packages. There are plenty of ways that the online world can help your business grow, from online sales, to promoting your company through your social media presence. Before you think about expansion in the more traditional sense, consider how expansion could look for your company online.

3. Go Back to Basics
When you founded or purchased your company, you had a vision for how things would be. As businesses grow, we get busy and it can be easy to lose sight of those core values. I suggest before any expansion, you have a meeting with your senior team members to bring yourselves back to this original vision and to consider how it will look with your expansion. Often when companies expand or grow too fast, they lose their personality and what makes them unique. In order to keep your customers happy and to stay true to your vision, keeping your original vision and core values in check. If your expansion might require some mat or bridges for your expansion, check out this website for some great options.

Expanding your business is an exciting step, hopefully these tips will help ensure you expand your business at the right time, while keeping your core values in mind. 

Brett Sartorial

Brett is a business journalist with a focus on corporate strategy and leadership. With over 15 years of experience covering the corporate world, Brett has a reputation for being a knowledgeable, analytical and insightful journalist. He has a deep understanding of the business strategies and leadership principles that drive the world's most successful companies, and is able to explain them in a clear and compelling way. Throughout his career, Brett has interviewed some of the most influential business leaders and has covered major business events such as the World Economic Forum and the Davos. He is also a regular contributor to leading business publications and has won several awards for his work.