Growth - every businesses goal. Small, Medium or Amazon-sized businesses all strive for continuous (quick) growth. But, let's face it, it's not so simple. It takes hard work, creative thinking and action. This is a very exciting generation of business - there are hundreds of inspiring and motivating business success stories. With new technology, endless marketing techniques, innovative scaling strategies, easier ways to diversify your client base - the list goes on. We've put together 3 ways that could help grow your business fast - some of these options may require some business funding - but don't worry we have that covered as well.
Here we go.
1. Create a recurring revenue stream.
We tend to use the word "recurring" as it is a major term in our industry. We also view this option as a way to create passive income streams as well. One or another may be a better fit for you or your business. It is very common these days to make your products or service a recurring option for your customers - pick a frequency and set your customers up with automatic billing! Another option might be going down the more passive route - most commonly known for real estate investing or other investments, but you could also create these types of income streams with strategic partnerships that are relatable to your business and would benefit your clients while producing a passive income stream for your business as well.
2. Buy a business.
There are so many opportunities out there. Often we set our sights on simply growing exactly what we have. Another way to gain faster growth is to purchase another business that does what you do! Acquiring an already established book of business allows you to grow you business in larger increments. There is a lot of behind the scenes work that go into something like this but some find this way to be much more rewarding in the long run.
3. Make it mobile.
Go beyond your comfort zone. In this day and age the resources tp expanding a business has never been so readily available. If you have perfected your business in your local area, why not replicate it in a surrounding town and/or online. Hey, it's also just as easy to get an old truck and turn it into a "mobile" version of your business - hit the round and bring brand awareness to thousands of more potential customers.
Each of these fast growth ideas will take some working capital - as we already said, we have you covered. Click here for more information on business funding.