The ultimate aim of starting a business is to grow. Starting with a small business that one day is a large and profitable enterprise is the dream of all entrepreneurs. Getting to where you want to be can take many small steps, changes, and adjustments along the way.

Here are four pointers on how you can diversify your company for growth.

Ensure that the new offering creates value for your customer

Take a look at your most valuable customer and see how you can solve more of their problems. Working with your customer to find the issues they face and then solving those is how to grow your business.

It may even lead to a full pivot as you find valuable changes that can be more profitable for you in the long run.

Be the expert that your customers call when they need help

It does not work if you want to jack of all trades but do not have expertise. You may well be able to get upskilled quickly enough to assist, but nothing kills a relationship faster than shoddy work. Some companies will say yes to any job and then figure it out. There is a danger in this, where you can land up disappointing the one customer you are hoping to impress.

Build on your company’s existing strengths

You know what you already do well. So look into the small changes and additions you can make to expand into other areas. Baby steps and adjustments can be easy to control. Once you have mastered them, you can see what other sites can be developed. The key is to move with a level of speed that does not wreck your company cash flow, put unnecessary strain on your staff or spread them too thin. Maintain your high service levels to your customers while investigating options.

Get the right staff for the job

You can look internally to see potential in your current team. If you do not have the skills in-house, hire them in. They can be trained into the position, and as they already know the business, it is a bonus. It may just be on a contract or freelance basis to start,  but ultimately, you need to have the right people for the job.

When you focus on taking small and deliberate steps to grow your business, you can do it with ease without disrupting the daily service you already offer.

Bizcash is a South African company that wants to grow SMEs in SA to ensure a sustainable future for all.

Speak to our team to find out more about how we can support your business with alternative funding options. Get in touch with us on 0861 93 93 93 or email us on info@bizcashscf.co.za or contact us here.

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