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The 5 Traps Of An Expanding Business

A Growing Business Waits For No Man!

Invest In Your Business

You’re on the right track right? But, you feel like it’s time to begin expanding your business quite possibly with advertising and/or marketing which you believe may be the answer to break through your present financial plateau. This line of thinking is fairly common. So, you are not alone. Making that determination to spend more money or even go into debt is all too popular. So, I’ll provide a breakdown for you that can help you make an intelligent choice to assist you with your growing company.

• First, if the very thought of investing cash to grow a company makes you uncomfortable and even frightened then you definitely should proceed with an open mind and maybe seek expert counseling as a way to be certain this is a good choice for your business.

• You must know the REAL cost. After all, you know that a expanding company needs you to go into debt, but be aware that there is such a thing as good debt and bad debt. Jot down down every one of the costs relating to the prospect of your expanding company. This is also where having a business plan drawn out is going to be helpful. Let’s say that you want to buy your MLSP membership and you also realize that you will have to have your article submitter too. And perhaps you need another funnel or two. Add them up and examine the cost, either a one-time expense or a monthly cost. You’ll need to learn the rewards and weigh them out over the long term.

• BEFORE you actually jump in and move forward with expanding your business, you will surely need to know that you definitely have a stash of funds for all of the costs of everyday living.

A Growing Business Needs Money?

• Your savings portfolio should have a decent quantity in it as well. You will hear all sorts of numbers on this depending on who you ask. The more conservative that the professional tends to be, the higher the savings they will propose that you have. If you know for certain that you could follow a multi-level marketing expert’s advice to the letter, then I would think you could turn a profit from your business expansion within six months or so. Possibly in this circumstance, having a three month savings could be adequate.

• Finally, it’s absolutely NOT recommended to borrow the money from a friend or family member. We have heard this time and time again with mixed results. Additionally, borrowing against your life insurance policy or 401k for your business growth is not a wise suggestion either. Ultimately you will have to look at the entire circumstances to know if borrowing is actually a wise idea.

Be Excited About Your Growing Business!

Your growing company is thrilling and has tremendous potential! You KNOW you will ULTIMATELY reap all of the benefits of multi-level marketing achievements with your advertising and tools investments. So, this is a time in your life that you could literally throw caution to the wind. You will no doubt at some point need to think about your growing business. So, you will really should analyze all factors and make choices with objectivity and responsibility.

To your success,

“The Prosperous Lady”

Small Businesses Marketing: How To Survive Against Giant Companies

Like Money, Top Heavy Happens With Information, Too

It’s not just money that pools like mercury: Information (or rather who controls or distributes it) does as well. Google is trying its best to weed out content farms…. yes… there is irony given where this is being posted… but like a 12 year old kid who hacks into secure government systems, people will always find ways to exploit the quantity of their content. Information is the new capital insofar as once you have a lot of it you can more easily make more of it. Information creates information. Traffic creates traffic. The larger a the company, the greater its ability to refine, improve, and expand its content – and the more difficult it becomes for small businesses to compete. For a new business trying to get seen online it can (it IS) very frustrating.

To get your new business seen online you can pay for ads, you can post articles, you can blog like crazy and comment on as many sites as you can find to get back links… heck (though I do not condone this approach) you can buy links with metaphorically shady back-alley deals). What I say: you gotta THINK like the top 1% of the information income class.

One option I’ve thrown out there on another site is for search engines to become more Small Business Friendly. Location based services and maps have helped a lot to highlight local business nearby… but insofar as SEO, small business still just can’t compete; we get out bought on search ads, and overwhelmed on content creation. So why not let the user choose? Buy local is everywhere (including some websites.. who are giant companies, of course, with local branches, but at least it’s a start). Imagine the implications if Google would go so far as adding a small business only button when people start their search – just as an option – that filtered out any non-local or big business who’s already monetizing and monopolizing all the content online.

Not likely to ever happen, but one can dream.

Market Share

Independent grocery and music stores do it: create regional or national groups so that they, combined, can have comparable buying power of WalMart and Guitar Center – without that leverage they cannot compete. So too should small most businesses. They know that they HAD to join forces or else they be forced out simply because they didn’t have the volume required for low cost, high profit margin like the giants.

ALL small business can benefit from this approach. Not just with purchasing, but with marketing. Share your Market. Partner with like-minded and like-minded businesses in different regions for purchasing, and partner with different industries that compliment your core business for co-branding, co-sponsorships, OEM deals, etc.

Market Share. Growth through strategic partnerships. It’s NOT something reserved only for big businesses. A sole proprietorship can do it just was readily as an international corporation.

To Start, consider sharing your market in these ways:

  • By Region: contact people who offer the same services, but in regions where you don’t compete. Create your own group. By the time you have 4-5 in your group, your advertising reach goes up while individual costs down.
  • Bundle Products: Go beyond just having a Pentium chip in an HP computer, find complementary products (wine if you sell chocolate, etc.) and contact them. Create product bundles that are sold at both of your locations. Fund product synergy and work it.
  • Email & Social Share Within Your New Network: word of mouth is still the sweetest for small business, so once you’ve expanded your partnerships, be very aggressive to ensure that everyone within the partnership is cross-promoting on social networks as well as adding your special offers within their email newsletters (and vice versa).
  • Segment Your Revenue Streams and Partner Accordingly: you might have three or for different levels of products or services (high-end vs entry-level, etc). If this is the case, then the types of market sharing you choose is important to maintain both the perceived value, and how that partnership might help your niche products / services to reach new markets.

Think Big.

I’ve encountered a lot of start ups of small businesses who think strategic partnerships and leveraging buying and information power is only for “the big boys”, but that is absolutely not the case. Small businesses can do it, too. It takes a little more footwork, but you can do it.