Growing the business
“To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable.” – Edgar Bronfman, Sr.
When you start with something small and have limited resources, turning that business into a major success takes time, effort and good planning. Every Unicorn has traveled that journey – taking small steps at the start and building on each of them to grow the value of the business.
Growth requires many things including getting the product or service to fit the market need; assembling the right team to execute the delivery; structuring the company the most effective way and attracting sufficient investment capital to make it all work.
You may have a great product or service but if you do not market it well then no one will buy it.
The strategies you use to promote sales can include direct marketing, leveraging off partners with vested interests, Search Engine Optimisation (SEO) strategy, Social Media Marketing, acquisition of similar businesses or all of them.
No matter what methods you employ, they need to be well planned and executed. It is no longer the case that if you build a website customers will come. Money can be spent foolishly or wisely and it is amazing what can be achieved on a small budget if planned correctly.
Growth can also be achieved by reviewing how you produce something and what changes can be made to make the processes more efficient. A streamlined process that produces an efficient cost-effective product can produce higher profits and lay the foundation for expanding the business.