Looking to Grow or Expand Your Business? 3 Sources You Should Consult First

If you think you are ready to grow your business, you are entering one of the most exciting times in the business world! That said, it’s good to talk to a few different groups of people to make sure it is the right time to start the transition. When you are well informed and have the support of your employees and customers, your expansion will go more smoothly and you will be much more likely to succeed.

Your Employees

While you don’t need your employee’s permission to expand, it is a good idea to have their insight. Sometimes your employees have access to more information about the day-to-day workings of your business that can help you to figure out whether expansion is a good idea and how to go about the transition. Ask for feedback from your employees and take it seriously when they give it so that you can make a decision that will positively impact the future of your business. Besides, when your employees feel informed, they are much more likely to enthusiastically participate in your new growth.

Your Customers

Your customer data is one of the most valuable tools you have when it comes to expanding your business. Talking to your customers can help you to figure out what you are doing well and what could use work as you make your transition and start to expand your business. You don’t want to start an expansion without talking to your customers just to see a problem they recognized get worse. Customer complaints are a goldmine of information that can be invaluable when it comes to figuring out how to make your business even better than it is now.

Your Accountant

It’s important that you have the funding you need before you start expanding your business. Your accountant can help you to decide whether making an expansion is a good choice at the moment. They can also direct you to the best possible plan moving forward, so you know your finances are safe as you start growing your business. Keeping your accountant in the loop will smooth your way forward and help you to keep your priorities straight.

Expanding your business is a great opportunity to reach more people and become even more successful. And, when you are armed with the right information, you can make your expansion happen without a hitch. Now is the time to start gathering information so you can expand your business and reap the benefits.

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By Amy Reese|2021-06-29T14:54:48-04:00May 23rd, 2021|Business Growth|Comments Off

About the Author: Amy Reese

Amy Reese is the Founder and Managing Partner of ARC Business Solutions, a consulting firm that helps small and mid-sized businesses gain access to Federal and Corporate contracting opportunities. After spending over 20 years as a Corporate Development Executive in which she collaborated with C-Suite and VP level leaders of Fortune 500 organizations and Government agencies, Amy now leverages her experience in relationship development, collaboration, negotiations and accountability strategies to benefit small and mid-sized businesses who are seeking opportunities to grow their bottom line. During her years in Corporate Development, Amy worked with clients to identify and implement customized solutions that supported her clients’ business needs by developing strategic plans. Amy’s unique accountability techniques have been instrumental in assessing client issues and gaps, allowing her to make recommendations of appropriate solutions. These special techniques have been instrumental in her success as demonstrated by the attainment of revenue growth for her clients in the millions.