This Special Strategy of Business Expansion Will Give Momentum to Your Business!

Just as starting any business is a big challenge, similarly taking the business forward with ‘Strategy of Business Expansion’ is an even bigger challenge.

Today we will talk about some such special business expansion strategies. By adopting these strategies, you can grow your business by leaps and bounds and grow your business rapidly.

Ways to increase business:

J – Curve:

Whenever you create a product or service, your first product is never your final product. First you understand the problem and create a product, then changes and improvements are made in those products as per the need. After many changes, your product is able to perform well and start earning profits, this is the J Curve Strategy. For example, Instagram is popular as a social media platform all over the world today but earlier it used to be Burbn. After the reform, today it is the most used social media platform.

Job Shadowing:

When you understand the correct way of doing your work, now you have to teach that method to other people also so that your work continues in a better way. For this the strategy of job shadowing is used. In this, you prepare an army of people who are experts in your work, which means teaching the same work to some more people who are experts in the work. When those people learn that work, then prepare some more people by teaching them the same work.

Geographical Expansion:

To expand the business, it is also very important to do its geographical expansion. That is why whenever you expand your business to a new place, choose a place where you can easily get all the resources related to your product. Do not be the first to go to any place where you will face difficulty in gathering things and people. That’s why always choose the right location according to your product. While starting a business at a new place, you can also add some more people with you so that your risk at that place gets reduced.

Merger and Acquisition:

Merger and acquisition strategy can also be adopted to expand your business. Merger means when two companies join together and work together. Whereas in acquisition, one company buys another company and takes it under its name and then its business is carried forward through its business.

Franchise Modal:

If the demand for your product or service is good and people like it, then you can adopt a franchise model to take the business forward. In this, by becoming a franchisor, you give franchise of your business to others, with which you also have to share your company’s proprietary tools, technology, trademarks, software and business tools. With this, the franchisor gets royalties and profits, while the franchisee gets a ready-made business model.

Distribution Network:

Its distribution network plays a big role in taking the business forward rapidly, in such a situation it is very important to build a good distribution network. For this, create a small team who knows how to make channel sales. Find distributors by going to associations in your industry. You can also find new and local distributors for yourself by going to trade shows and exhibitions. Apart from the distributors you already have, you can also know about the distributors present in other cities.

Mobile Application:

India has today become the world’s largest mobile application downloading country. Nowadays, mobile apps are easily accessible to people, that is why to take your business forward, you should definitely create your new mobile app. There are more Android users in India, hence first create an Android app so that you can reach more people.

These are some such business expansion strategies by adopting which you can easily grow your business. You can watch this complete video related to business expansion strategies, where you will get to know not just one or two but all 32 business expansion techniques in detail.