Congratulations! You and your business have made it through the past few years of surprises. Now what? You’re in a good place now, but there’s always room to get to an even better place–or even another place entirely.
Experts say that 2022 is expected to be a year of recovery and growth for the Philippine economy. Take the chance this year to experience your own growth and take your business to new horizons. Just starting with your expansion plans, or maybe you’ve already got an expansion underway? It’s never too early to get helpful tips to make sure that you’ve got all your bases covered.
1. Lay the groundwork.
No one builds a house without a floor plan in mind. Research!
- Check what has worked for others, or what hasn’t. Seek both expert advice and the experiences of friends and family.
- Check your data. Know by heart which among your products have been selling well, or what items have not been moving well.
2. Focus on innovation
Your business strategy is tried and tested, but that strategy may not hold up when you try to scale up.
- Have an idea on what new infrastructure you will need. For instance, if your expansion plan includes training, your trainers should have what they need in cloud services so they’re ready anytime and anywhere.
- Streamline your current processes. If a delivery goes through hand-offs before it goes out, consider having dedicated checks already set up in your new locations.
3. Consider the location
Every house has its rules, so expect the same when you start looking into new locations.
- Know what the competition looks like. Consider setting up your cozy little café away from the other, already established cozy little café.
- Check the traffic. We know about the regular Manila traffic that might make it difficult for customers to reach you, but also consider your employees who are commuting in.
- Know the rules and regulations you might be facing in the future. If your location has a plastic ban ordinance, have your alternative ready.
4. Be consistent in delivering your product or service
You have big ideas, but your customers should still be around to enjoy the results.
- Customers have expectations. If a customer had a great experience purchasing from you, hopefully the questions they have on your new product are answered just as amiably.
- Maintain consistency by making sure your employees are coordinated. If someone was expected to arrange a delivery, that delivery should be ready to go out as expected.
5. Stay connected
You’ve got your dream team, but make sure they can handle growing with you.
- Connectivity is an important tool in the arsenal of any business. If needed, your marketing team should be able to work just as well remotely as they do when in the same room.
- Effective teamwork comes from effective communication. Conference calls are only effective if everyone can be understood.
6. Keep company culture top of mind
Just like your customers, your employees shouldn’t be negatively affected by changes.
- Keeping your team secure is also knowing what will make them stay. Continue presenting new opportunities and benefits for high-performing employees.
- Incentives and competitions can help increase productivity. The competition and the general atmosphere, however, should stay friendly.
7. Have a contingency plan
So now you’ve got your perfect plan. But as exciting as your plans are, change always presents risk.
- Check that you’ve got the foundation to cushion your setbacks. Your first branch should be doing well enough to support you.
- Have a fallback strategy in case your new project doesn’t go the way you want it to. Maybe that expensive videography equipment you bought can be rented out instead.
Growth for your business is thrilling, but it can look daunting as well. Choose a partner like Globe Business who can assist business owners like you in taking the next step.
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Know more about Unli Fiber Biz Plan 2899 and how you can avail of this exciting flash freebie. Schedule a consultation today!