15 Strategies for Quickly Expanding Your Business (2022)

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Let's face it. Scaling your business is hard. It takes considerable effort. In the beginning, it means wearing different hats. It means dealing with sales and marketing. It means understanding taxes and corporate compliance. It involves having to interact with customers on a daily basis. And so much more. At the end of the day, it takes its toll on you.

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If you're struggling to grow your business, there is light at the end of the tunnel. Sure, it's hard. But, what's the alternative? A life-sucking 9-to-5 job? Surely not. Okay, maybe you're longing for the security of a guaranteed paycheck. But, at what mental or emotional price will that come?

The truth? If you buckle down, clear your mind, and just look at things in perspective, you can easily identify ways you can grow your business and make more money quickly. While hundreds of business growth strategies likely exists, the following 15 will take your business to the next level quickly and efficiently.

Roland Frasier, a business growth strategist, has a unique approach to scaling businesses. As a principal of Digital Marketer and Native Commerce Media, and CEO of War Room Mastermind, he knows a thing or two about the online marketing world.

Frasier, who builds and scales seven, eight and nine-figure businesses tells me that there are loads of ways to grow a business quickly. But, only 15 core strategies that will truly make a real impact on your bottom line. Some are time intensive at the outset. That much should be expected. But, the benefits and profits will ultimately make them well worthwhile.

(Video) 15 Strategies for Quickly Expanding Your Business

Like anything else in life or in business, you have to put in the time if you're looking to reap the benefits. Don't focus on the short-term outcome of your work. Look to the long term. Build sincere value and look to help your customers. Genuinely care. That should be the foundation. After that, it's simply a matter of taking action and putting in the work to scale.

Related: 7 Mental Shifts That Allowed Me to Become a Millionaire at 22

1. Build a sales funnel.

The first way to quickly grow your business is by building a sales funnel. If you don't have a sales funnel, you're making a monumental mistake. Sales funnels can help to automate your business. It helps you to scale and grow quickly and easily. Sure, there's some front-end work involved. Obviously. But, once those processes are in place, it's smooth sailing from there.

Frasier says that every sales funnel needs to be carefully conceptualized before it's created. Consider the different funnels first and foremost. Whether it's a free-plus-shipping offer or a high-ticket coaching funnel, it's important to build your automated selling machine to quickly scale and grow your business.

2. Utilize a customer management system.

Manually tracking transactions is hard. No one wants to do that. It gets too cumbersome as the business grows. If you want to scale quickly, use a customer management system. There are plenty to choose from. But, it really depends on your line of work. Of course, cloud-based software like SalesForce is always a viable option.

Quickbooks can help you with the accounting. InfusionSoft can also assist with sales and marketing. There are plenty of CMS systems, most of which integrate with other cloud-based services. Find what works for you and utilize it.

(Video) 7 Strategies to Grow Your Business | Brian Tracy

Related: How to Become a Millionaire by Age 30

3. Research the competition.

When going to market, and you're really looking to get your offer to the masses, you need to research the competition. Frasier says he uses two platforms to conduct his research. The first is Similar Web. The other, AdBeat. Both provide competitive intelligence. It's your chance for x-ray lenses into all landing pages, ad copy, and other stages of the funnel.

This allows you to uncover any advertiser's online strategy. Find the ads that have been running for the longest and emulate those. That's the quickest way you scale any business. If it's proven and it's working for your competitors, it's likely it'll work for you.

4. Create a customer loyalty program.

Loyalty programs are great ways to increase sales. It costs up to three times more money to acquire new customers than it does to sell something to an existing customer. Other resources pin this number anywhere from four to 10 times more. However, any way that you slice it, acquiring new customers is expensive.

Frasier says that building a customer loyalty program will help you retain customers. It might also help you attract new ones as well. If there's a clear incentive to spend more money with you, it'll pay off in the long run. Build an attractive loyalty program and make it accessible to your existing customers and watch sales skyrocket over time.

5. Identify new opportunities.

Analyze new opportunities in your business by understanding your demographic better. Understand everything from distribution channels to your direct competitors, and even an analysis of foreign markets and other potential industries. There are likely dozens of new opportunities you could pursue immediately with the proper amount of analysis.

(Video) 15 Strategies to Start and Grow Your Small Business

Related: 25 Common Characteristics of Successful Entrepreneurs

6. Build an email list.

One of the most best and most effective ways to grow a business quickly is to build an email list. Clearly, that means you need to have a lead magnet. Why else would people subscribe to your list? And, with a lead magnet, comes the necessity for a sales funnel. Look into companies like Aweber, ConstantContact, ConvertKit, Drip, GetResponse and others for building and managing your list.

7. Form strategic partnerships.

Strategic partnerships with the right companies can truly make a world of difference. It could allow you to reach a wide swath of customers quickly. Identifying those partnerships might be easier said than done. But, look out for companies that are complementary to your own. Contact them and propose opportunities for working together.

8. Leverage global platforms.

In the ecommerce business selling products? Why not use Amazon's FBA service? In the business of selling services? Why not use Upwork? In the business of renting vacation homes? Why not leverage AirBnB, InvitedHome, HomeAway or other global platforms? Find a platform that's reached saturation and use it to grow your business quickly.

9. Licensing deals

Doing licensing deals is a great way to grow your business without too much added effort. If you have a product that you can license to others and share a revenue of, that's an ideal way to grow quickly. Taking a popular or successful product and bringing it to a company with a large footprint can help you achieve market saturation quicker.

Related: I Started Saying 'No' to These 6 Things. My Life and My Business Got a Lot Better.

(Video) Strategies For Quickly Expanding Your Business

10. Consider a franchise model.

If you have a successful business, and you're really looking to grow quickly, consider franchising it. Although franchise costs are high and moving to a franchise model is complex and takes a lot of marketing know-how, it could make all the difference if you're truly looking for quick growth.

11. Diversify your offer lineup.

Look into diversifying your offers. What complementary products or services or information can you offer in your business? In order to grow, you need to think about expansion. Identify new opportunities within your niche. Uncover the pain points. What else can you sell to your clients. Where else can you add value in the exchange?

Related: 9 Steps to Increase the Value of Your Business

12. Build passive income streams.

Growing a business takes significant effort. If you're dealing with razor-thin margins, consider building passive income streams. This way, you don't have to worry so much about keeping the lights on, so to speak. Passive income will afford you the opportunity to make mistakes and not have to lose your shirt. It'll keep you in business and provide a basis to grow and market and scale quickly by giving you ample resources.

13. Acquire other businesses.

Sometimes, acquiring other businesses is a very quick way to grow your own business. If you can find competitors or businesses in other industries that would complement your own, you could use them as platforms to scale fast. Take a look within your industry and even outside of it to find potential for potential opportunities.

14. International expansion.

Can you expand internationally? Can you take your existing offers and scale them internationally? What would it take to do business in Canada or Mexico or Europe? If you have a converting offer, international expansion could be a quick way to grow. You'll incur some costs. Sure. But, the potential for profits could be massive.

(Video) Strategies for Quickly Expanding Your Business

15. Create a webinar.

Webinars are a great way to promote any product or service. It can also help you grow any business relatively fast. Webinars provide an automated selling tool for literally taking any product or service to market and reaching a wide audience quickly. The webinar medium is great for captivating audiences to clinch sale after sale, automatically.

FAQs

How can I expand my business quickly? ›

Although growing your small business will take time and energy, there are 10 strategies you can use to help accelerate business growth.
  1. Do Your Research. ...
  2. Build a Sales Funnel. ...
  3. Increase Customer Retention. ...
  4. Participate in Networking Events. ...
  5. Practice Corporate Social Responsibility. ...
  6. Form Strategic Partnerships.

What are the 8 ways to grow your business? ›

8 ways to grow your business
  • Get to know your customers. ...
  • Offer excellent customer service. ...
  • Nurture existing customers and look for new opportunities. ...
  • Use social media. ...
  • Attend networking events. ...
  • Host events. ...
  • Give back to your community. ...
  • Measure what works and refine your approach as you go.

What are the 10 ways to improve business practices? ›

10 THINGS YOU CAN DO TO IMPROVE YOUR BUSINESS RIGHT NOW
  1. Identify your critical success factors. ...
  2. Keep score. ...
  3. Learn from the best. ...
  4. Create the future. ...
  5. Involve your people. ...
  6. Set goals. ...
  7. Make a plan.
  8. Develop systems.

What are the 4 growth strategies? ›

The four growth strategies

These are Product, Placement, Promotion and Price. Where the Four Ps focus on audiences, channels & pricing, the Ansoff Matrix is more effective for a broader view of markets and uses the older Four P framework within each of the 4 Ansoff quadrants.

What are the 4 types of business growth? ›

The four growth strategies
  • Market penetration. The aim of this strategy is to increase sales of existing products or services on existing markets, and thus to increase your market share. ...
  • Market development. ...
  • Product development. ...
  • Diversification.

What are the 13 tips for successful business? ›

13 Ways to Improve the Success of Your Small Business
  • Create brand personality. ...
  • Develop a strategic business plan, organizational structure, and operational support systems. ...
  • Avoid common mistakes. ...
  • Become connected to the community. ...
  • Put your employees first. ...
  • Don't just acquire customers, retain them. ...
  • Get organized.
2 Dec 2019

What are the 5 keys of business success? ›

Business Matters: 5 keys to success
  • Create a market-fit product. It sounds so straightforward, however, I see plenty of entrepreneurs starting their businesses without having a good product. ...
  • Focus on what's important. ...
  • Develop your leadership skills. ...
  • Look after your customer. ...
  • Find time to think.
14 Jun 2021

What are 5 ways to promote a business? ›

12 tips to promote your business
  1. Take advantage of local listings. Register your business with Google — it's the new yellow pages. ...
  2. Use social media. ...
  3. Create engaging content. ...
  4. Optimize your website's SEO. ...
  5. Create press releases. ...
  6. Get involved in an online community. ...
  7. Use high-quality visuals. ...
  8. Pay for advertising.

How can I grow my business in 2022? ›

How to Grow Your Business in 2022?
  1. Build a Strategy for Success. ...
  2. Boost the Online Presence of Your Business. ...
  3. Focus on Educating, Not Hard-Selling. ...
  4. Create High-Quality Content, but Keep It Simple and Clear. ...
  5. Organize Online Events. ...
  6. Focus on Personalization. ...
  7. Prioritize Customer Service.

How do you grow in a company? ›

How to grow within a company
  1. Determine your path. The first step to grow within the company is to ask yourself what you would like to achieve. ...
  2. Communicate your goals with your supervisor. ...
  3. Devoting outside time to growth. ...
  4. Continuing your education. ...
  5. Ask for a bigger challenge. ...
  6. Work with the team. ...
  7. Assess areas for improvement.
26 Apr 2021

How do you plan on growing your business? ›

The following can help you plan for growth:
  1. Set goals for growth. Establish what you want your business to achieve. ...
  2. Involve management and staff. Meet frequently with management and staff to review results and to monitor current performance. ...
  3. Control costs. ...
  4. Regularly review targets. ...
  5. Develop good systems. ...
  6. Also consider...

What are the 10 business strategy examples? ›

10 Examples of effective business strategies
  • Technological advantage. ...
  • Improve customer retention. ...
  • Improve customer service. ...
  • Cross-selling products. ...
  • Increase sales from new products. ...
  • Innovation and pushing boundaries. ...
  • Product diversity. ...
  • Price point strategising.
8 Feb 2022

What are the 7 steps to implement a business strategy? ›

7 Key Steps in the Implementation Process
  1. Set Clear Goals and Define Key Variables. ...
  2. Determine Roles, Responsibilities, and Relationships. ...
  3. Delegate the Work. ...
  4. Execute the Plan, Monitor Progress and Performance, and Provide Continued Support. ...
  5. Take Corrective Action (Adjust or Revise, as Necessary)
25 Feb 2020

What are the 3 basic strategies? ›

According to Porter's Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.

What are the five 5 forms of strategy? ›

Each of the 5 Ps stands for a different approach to strategy:
  • Plan.
  • Ploy.
  • Pattern.
  • Position.
  • Perspective.

What are 3 ways in which a business can grow? ›

So, What Are The 3 Ways To Grow Your Business?
  • Acquire New Customers.
  • Increase Your Average Transaction Value.
  • Increase Your Customer's Frequency of Purchase.
22 Feb 2022

What are the seven levels of business growth? ›

The seed, startup, growth, established, expansion, maturity, and exit stages. Each stage of growth in business is important because businesses are known to face different challenges at each stage. They also require different financial management practices at each stage to survive.

What are the two ways businesses can grow? ›

Businesses can grow in two different ways, either through Internal Growth, also known as organic growth, or External Growth, also known as integration.

What are the 10 secrets of successful entrepreneurs? ›

Based on Reznick's years of experience helping businesses grow from the inside, here are 10 secrets of successful entrepreneurs for achieving growth even in a poor economy:
  • Grow to survive. ...
  • Check your ego. ...
  • Remember your first fans. ...
  • Share your knowledge. ...
  • Hire someone to watch your money. ...
  • Know when to persevere.
13 Dec 2021

What are the 7 secrets to success? ›

7 Secrets to Unlock Success and Happiness
  • Learn. You have to be learning all the time. ...
  • Develop an independent mind. Don't blindly follow what people say and do. ...
  • Have rituals and self-discipline. ...
  • Try a lot of different things before you settle on any one thing. ...
  • Become interesting. ...
  • Be Pragmatic. ...
  • Raise your consciousness.
28 Nov 2014

What are the 10 tips for success? ›

They're simply here to help you become successful in whatever endeavors you're striving towards.
  • Think positive thoughts. ...
  • Be prepared to learn. ...
  • Don't be afraid of having big goals. ...
  • Focus on your strengths and passions, not your weaknesses. ...
  • Get rid of distractions. ...
  • Plan, plan, and plan again. ...
  • Switch it up to avoid burnout.
23 Sept 2021

What are the 12 steps to success? ›

12 Steps to Achieve Success in Anything
  • Have a Desire: What Do You Really Want?
  • Believe That Your Goal is Achievable.
  • Write Your Goal Down.
  • Determine Your Starting Point.
  • Determine Why You Want It.
  • Set a Deadline.
  • Identify the Obstacles in Your Way.
  • Determine the Additional Knowledge and Skills You Need.

What are the 7 keys in entrepreneurship? ›

7 Keys to a Successful Entrepreneurship
  • Get Educated. ...
  • Know Your Market. ...
  • Have A Financing Plan. ...
  • Communicate Well. ...
  • Focus On Sales. ...
  • Stay Flexible. ...
  • Manage Stress.
6 Apr 2018

What are the 6 strategies used in promotion? ›

  • Contests as a Promotional Strategy. Contests are a frequently used promotional strategy. ...
  • Social Media Promotion. ...
  • Mail Order Marketing. ...
  • Product Giveaways and Samples. ...
  • Point-of-Sale Promotion and End-Cap Marketing. ...
  • Customer Referral Incentive Program. ...
  • Causes and Charity. ...
  • Branded Promotional Gifts.

How can I sell my small business fast? ›

How to Sell a Business Fast: 7 Steps for Selling Your Business Quickly
  1. Review of Accounting Records. ...
  2. Business Operations Documented. ...
  3. Have a Marketing Plan. ...
  4. Hire a Business Broker. ...
  5. Plan to Target Buyer Prospects. ...
  6. Plan for Due Diligence. ...
  7. Collaborate for Successful Transition.

How long does it take for a business to expand? ›

Although every business is different, most can expect to start seeing success after about seven to 10 years. In fact, the first three years are just about finding your direction and establishing your business as a real company. Take these examples of some of the most famous businesses today.

What is the first step you should take to expand a business? ›

Market Research

This should be your first step once you start considering business expansion. Market research can help you identify areas you could expand into. It can also give you a clearer picture of what your audience needs or wants in relation to your target product or industry.

How can you attract customers? ›

5 Tips for Attracting New Customers
  1. Identify Your Ideal New Customers. ...
  2. Use Direct Response Marketing to Attract Customers. ...
  3. Give Something Away to Entice New Customers. ...
  4. Give Your Business a Face Lift to Increase Sales. ...
  5. Get The (Right) Word Out.

What makes a small business successful? ›

Successful small businesses are customer-focused, which means they understand the needs of their current customer bases. Satisfied customers can drive profits through repeat business and referrals.

How do you increase sales? ›

  1. Be Present With Clients And Prospects. ...
  2. Look At Product-To-Market Fit. ...
  3. Have A Unique Value Proposition. ...
  4. Have Consistent Marketing Strategies. ...
  5. Increase Cart Value And Purchase Frequency. ...
  6. Focus On Existing Customers. ...
  7. Focus On Why Customers Buy. ...
  8. Upsell An Additional Service.
30 Mar 2021

What sells quickly? ›

The 20 Best Things to Sell for Quick Money Right Now
  • Jewelry and watches. ...
  • Video game consoles. ...
  • Old phones and accessories. ...
  • Purses, wallets, and backpacks. ...
  • Yard equipment. ...
  • Jeans, workwear, and designer clothing. ...
  • Furniture. ...
  • Baby gear.

How do you market your business? ›

8 steps to marketing your business
  1. Conduct market research. Market research is a key part of developing your marketing strategy. ...
  2. Profile your target markets. ...
  3. Identify your unique selling proposition (USP) ...
  4. Develop your business brand. ...
  5. Choose your marketing avenues. ...
  6. Set your goals and budget.

How should a beginner sell? ›

11 Sales Tips for Beginners
  1. Think About Who You Should Be Selling to.
  2. Don't Think About Your Goals – Think About Your Customer's Goals.
  3. Sell Value, Not Specs.
  4. Don't Take Rejection Personally.
  5. Honesty Is the Best Policy.
  6. Research Is Key.
  7. Personalize Everything.
  8. Practice Your Small Talk – and Write a Script.
11 Jan 2021

What is the most important thing for a company to be successful? ›

Customer service and customer experience are major focuses of the most successful businesses. The first step is creating products and services that customers want. But focusing on customers goes beyond your products.

What are the signs that your business is growing? ›

From higher demand for your products to a growing industry, here are six signs your company is heading in the right direction and ready to expand.
  • You're meeting your metrics. ...
  • You have a solid team of employees. ...
  • You have enough capital. ...
  • Demand is higher than supply. ...
  • Your industry is growing. ...
  • You've defined your processes.
8 Aug 2022

What should be considered when expanding a business? ›

5 Things to Consider Before Expanding Your Business
  • Clarify your goals. ...
  • Reassess your vendors and partners. ...
  • Consider financing options. ...
  • Conduct market research. ...
  • Make informed hiring decisions. ...
  • 5 Ways to Help Secure the Credit You Need.
  • 4 Points to Consider Before Deciding to Hire.

What are 10 startup tips for a new business? ›

  • 1) Be Passionate.
  • 2) Start While You Are Still Employed.
  • 3) Don't Do It Alone.
  • 4) Get Clients or Customers Lined Up.
  • 5) Write a Business Plan.
  • 6) Do Your Research.
  • 7) Get Professional Help.
  • 8) Make Sure the Money Is Lined Up.
13 Sept 2022

What are the 20 steps to starting a business? ›

Ready, Set, Startup Checklist: 20 Steps to Starting a New...
  1. Test your concept. ...
  2. Build a business plan. ...
  3. Work on your sales pitch. ...
  4. Find funding. ...
  5. Decide on a business structure. ...
  6. Get the right licenses and permits. ...
  7. Open a business bank account. ...
  8. Organize your accounting.
5 Apr 2021

What are the 5 stages of growth for a business? ›

Every new business and start-up, big or small, goes through the five stages of business growth. These phases include existence, survival, success, take-off, and resource maturity.

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