Top 5 Tips for Rapid Small Business Growth

The weekly top 5 tips post is always full of helpful hints and advice for small, home and micro business owners.

1. Joint ventures are a great way of moving your business forward quickly. By working together with another local business you can cross sell products and services that complement each other.

2. Improving your business productivity is one way to take your business to the next level. Your business will always be limited to some extent by what it is able to produce. Seek outside investment, buy new equipment or hire additional staff – do whatever it takes to improve productivity.

3. A new product launch will often be the catalyst for rapid business growth. If you have an established product that has reached a plateau of growth, it is unlikely to help your business grow quickly. Consider launching complementary products that will align with your current offering and boost sales across your entire product line.

4. Trying a new marketing strategy is another way to grow quickly. Find more effective tools to reach your target market or look around for markets that you don’t currently penetrate.

5. Sometimes it is too difficult to do it all by yourself. Consider changing the structure of your business and forming a partnership with the right people. If they want to buy into your business they will need to put up some capital, which you can then use to fund growth.

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