When it comes to your business there is no denying that it can be a great option to consider if you have an idea that you think will work. Your own business could be born out of nothing, and like most businesses, they start in your spare time in the comfort of your own home. Some remain that way, but others take that plunge and leave their current jobs to make this their reality and become their own boss.

It will always be a scary prospect starting out. You have your business plan, any investment you have raised, and your belief that it will work. But there will always be doubt that creeps in, it is only natural to worry. After all, leaving a job that gave you a consistent wage and some sort of security would have been a big decision to make. However, fast forward to do today and you may find that you have yourself a decent little business. Working from home is ideal at first, as it gives you low costs and the flexibility to work as and when is required. But of course, as things start to improve and your business begins to succeed, you need to start thinking about ways you can expand your business. Options that will work for you. So with that in mind, here are some of the things that you could consider when it comes to expanding your business.

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Increase your marketing options

Marketing is always going to be a great way to increase your sales opportunities and in turn expand your business appropriately. However, there are a few different avenues that you can try. Some you may already do, but there is always room for improvement and a change of strategy when it comes to marketing output.

Social media

One of the biggest ways to market your business these days is through social media. You have a captured audience to begin with and with so many people use it various platforms throughout the day, it is now more easy than ever to get your business seen from behind a computer screen. But, do you do social media marketing as well as you could? It is all about the content you share, when you share it, and how consistent you are. ALongside making sure you engage with your audience by answering comments and direct messages. It might be worth re-looking at your social media strategy and seeing if there are any changes that could be made.

The local area

Perhaps you need to focus your energy on your local area. So many more people are looking at ways to shop locally and support smaller business, so this is something that you could definitely take advantage of. Maybe you should look at getting involved in the local community. Perhaps sponsoring local charities or events in return for some advertising opportunities. There could be a whole new customer base waiting for you to crack into.

Other marketing options

There are, of course, other marketing options that you could consider. This could be things like press adverts, either in local press or something more far reaching. It could be collating email addresses and then using the information for a weekly or monthly newsletter, enticing people with offers or new services and products that are available.

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Increase your business output

Of course you need to think about ways that you can increase your business output. So much to do with business expansion comes from the way that you conduct business day to day, so you may want to address this situation and see what you could do to increase the output. Here are two suggestions to consider.

Outsourcing where needed

Often as a business owner we can be tempted to want to do everything all at once or by ourselves. However, this can be a big mistake as you end up spreading yourself too thinly and not being able to do things to the best of your ability. So you may want to look at what options you have and one of those could be outsourcing. It is all about placing a value on your time. If that value is worth more to you to be put elsewhere in the business, then look at the areas which could be covered by someone else. This could be things like accounts, website management or even things like social media scheduling and management.

Hiring staff

If outsourcing is not your thing, then why not think about your other options? This could be considering something like hiring a staff member to do a specific job. It enables you to keep everything in house and allows you to manage things closer to home. It can help to free up your time to focus on other areas where you could really make a difference and is a great way to expand your business.

Expanding when it comes to the location of your business

Expansion doesn’t necessarily mean hiring staff or taking on different avenues of marketing, it can also mean expanding in terms of the location of your business. Perhaps right now you are at home working away. This could have worked out extremely well for you in those first few days, but it might be more of a hindrance now as things start to increase and gain momentum. So here are some of the things you could consider and think about if you want to change the location of your business.

Where will you go?

Maybe the location is going to be important, and perhaps enable you to change the way that you do business. It could be that you want a location right in the thick of all the action, such as a bustling high street. It gives you ease of access when it comes to customers and potential working clients, but it can also give you that footfall and opportunity to generate more business. Or you could look at things like something further afield, which could be a big cost saving in terms of leases and overheads.

A shop or showroom, or just an office?

What is it you want from this new location? Is it so that you can generate more footfall and use it as an advertising opportunity? Do you want it to a be a shop where you can sell from, or a showroom where not only can you take orders but also showcase what it is that you can do? Or is it an office? Enabling you to be able to work outside of the home, hire staff and maybe store products in a different location. There are many ways a new location and premises could help move your business forward.

Will the building need repairs, and costings for the future

One thing you may not factor into  your move is the ongoing costs that might be incurred. Of course, you may have thought about leasing costs, but what about repairs? Potential roof repairs, for example, if there is a particularly rough night when it comes to weather. When calling in a commercial roofing company for emergency repairs might be your only option. Or could it be that you need to think about costs in terms of energy usage, internet access and also health and safety requirements.

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Expanding when it comes to your products and brand

The last thing that you could think about when it comes to expanding would be the products and your branding. Moving the business forward can be such an exciting time, and so these options might be worth considering.

Franchising your business

A franchise is where you have your own business, but use a brand and business plan and model of an already established business. Franchising your business is a great way to expand your brand to different areas that you may not get to. Selling your business model and moving it forward that way not only gives you a quick cash injection, but also a great way to move the business forward at a much faster rate. There is a lot more information online about franchising if you want to know more about it.

Could you add to the range of products or services you offer?

Maybe expansion means focusing on the products or the services you provide. Could you do anymore towards the current line you offer? Perhaps there is a natural progression that you can move into. Some businesses expand their range by offering up other areas that they can focus on. For example, a clothing company that just sells ladies clothing could branch into menswear or children’s clothing.

What about expanding in terms of stock levels?

Finally, maybe expanding your business just means being able to sell more of the products you currently have. This could mean increasing your stock levels and having a place to store them. Meeting with the demand that is already there. It could be one of the easiest ways to expand and move your business forward.

Let’s hope this has given you something to think about when it comes to expanding your business.