Three Great Ways You Can Expand Your Business

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Three-Great-Ways-You-Can-Expand-Your-Business-Chispa-MagazineWhen you think about expanding your business, we imagine you have one thought in mind. How can I make more money without spending more? Are we right? Ah, but if you want to succeed with an expansion, it will come at a price. You’ll have to invest more money into your business. Unless, you can offer something more than what your business has previously been giving customers. Let’s look at a few examples so that you can understand the right routes to expansion.

Giving Your Customers Something New
This can be a method of expanding your business. Or, it might just be a way to keep your company competitive in a growing market. Either way it’s something you should be thinking about. For instance, you might own a spa business, designed to help people relax and rejuvenate their body. Perhaps, you’re already offering the service of massages and facial scrubs. But, now you want to add something different to your available services. You might take a course at Shulan College and learn about acupuncture. This Chinese treatment is therapeutic and has been linked to reducing the build of stress as well as strengthening the body.

Or, perhaps you are a production company. Then, it might be as simple as producing a new item to release on the market. Companies do this all the time to increase interest in their brand and gain fresh customers on the market.

Increased Marketing
After all, they do say to make money you have to spend money. But don’t worry, you won’t have to spend that much of it. Particularly, if you choose to use forms of free online marketing. For instance, have you tried using online profiles to boost interest in your company. You certainly should. Interacting with consumers online can have incredibly positive effects on your business. It lets them know that they can interact with your company and gives them a place where they can pitch ideas of how your business can improve. You can also gain followers and support that quite often spreads into an online customers base.

You can also consider paying for leads or SEO. However, there is no guarantee that either of these forms of expansion will lead to the positive results you were promised. Leads can often be dead ends that have no interest in investing in your business. SEO will only work if your company already has word of mouth and a strong support online.

Injecting Investment
Then again, perhaps you do want to inject a large amount of money in your business to trigger an expansion. You could do a lot with the usual five hundred grand loans companies offer small businesses such as yours. But, you will have to watch out for the interest rates. They’re the killers that can but your company out of business faster than you would believe.

Instead, we think the best idea is to combine the first two concepts. Then pitch your expansion to more investors. With the new services and increased support, we’re sure they’ll be willing to fund your new expansion for you.

Photo by Safouan Besrour

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Milo Senalle

Milo Senalle

Managing Editor at Chispa Magazine
As one of the managing editors of Chispa Magazine, Milo Senalle is the go-to man for all things technology, ethical, and financial concerns. Providing laughs with his style of writing and problem-solving techniques, Milo is a voice of reason among the girly staff at Chispa. Married with children, living in Atlanta, he works 24/7 on becoming a man of courage and believes honor begins at home.

Milo Senalle

As one of the managing editors of Chispa Magazine, Milo Senalle is the go-to man for all things technology, ethical, and financial concerns. Providing laughs with his style of writing and problem-solving techniques, Milo is a voice of reason among the girly staff at Chispa. Married with children, living in Atlanta, he works 24/7 on becoming a man of courage and believes honor begins at home.