15 Strategies for Quickly Expanding Your Business (2022)

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Let's face it. Scaling your business is hard. It takes considerable effort. In the beginning, it means wearing different hats. It means dealing with sales and marketing. It means understanding taxes and corporate compliance. It involves having to interact with customers on a daily basis. And so much more. At the end of the day, it takes its toll on you.

15 Strategies for Quickly Expanding Your Business (1)Hero Images | Getty Images

If you're struggling to grow your business, there is light at the end of the tunnel. Sure, it's hard. But, what's the alternative? A life-sucking 9-to-5 job? Surely not. Okay, maybe you're longing for the security of a guaranteed paycheck. But, at what mental or emotional price will that come?

The truth? If you buckle down, clear your mind, and just look at things in perspective, you can easily identify ways you can grow your business and make more money quickly. While hundreds of business growth strategies likely exists, the following 15 will take your business to the next level quickly and efficiently.

Roland Frasier, a business growth strategist, has a unique approach to scaling businesses. As a principal of Digital Marketer and Native Commerce Media, and CEO of War Room Mastermind, he knows a thing or two about the online marketing world.

Frasier, who builds and scales seven, eight and nine-figure businesses tells me that there are loads of ways to grow a business quickly. But, only 15 core strategies that will truly make a real impact on your bottom line. Some are time intensive at the outset. That much should be expected. But, the benefits and profits will ultimately make them well worthwhile.

(Video) 15 Strategies for Quickly Expanding Your Business

Like anything else in life or in business, you have to put in the time if you're looking to reap the benefits. Don't focus on the short-term outcome of your work. Look to the long term. Build sincere value and look to help your customers. Genuinely care. That should be the foundation. After that, it's simply a matter of taking action and putting in the work to scale.

Related: 7 Mental Shifts That Allowed Me to Become a Millionaire at 22

1. Build a sales funnel.

The first way to quickly grow your business is by building a sales funnel. If you don't have a sales funnel, you're making a monumental mistake. Sales funnels can help to automate your business. It helps you to scale and grow quickly and easily. Sure, there's some front-end work involved. Obviously. But, once those processes are in place, it's smooth sailing from there.

Frasier says that every sales funnel needs to be carefully conceptualized before it's created. Consider the different funnels first and foremost. Whether it's a free-plus-shipping offer or a high-ticket coaching funnel, it's important to build your automated selling machine to quickly scale and grow your business.

2. Utilize a customer management system.

Manually tracking transactions is hard. No one wants to do that. It gets too cumbersome as the business grows. If you want to scale quickly, use a customer management system. There are plenty to choose from. But, it really depends on your line of work. Of course, cloud-based software like SalesForce is always a viable option.

Quickbooks can help you with the accounting. InfusionSoft can also assist with sales and marketing. There are plenty of CMS systems, most of which integrate with other cloud-based services. Find what works for you and utilize it.

(Video) 7 Strategies to Grow Your Business | Brian Tracy

Related: How to Become a Millionaire by Age 30

3. Research the competition.

When going to market, and you're really looking to get your offer to the masses, you need to research the competition. Frasier says he uses two platforms to conduct his research. The first is Similar Web. The other, AdBeat. Both provide competitive intelligence. It's your chance for x-ray lenses into all landing pages, ad copy, and other stages of the funnel.

This allows you to uncover any advertiser's online strategy. Find the ads that have been running for the longest and emulate those. That's the quickest way you scale any business. If it's proven and it's working for your competitors, it's likely it'll work for you.

4. Create a customer loyalty program.

Loyalty programs are great ways to increase sales. It costs up to three times more money to acquire new customers than it does to sell something to an existing customer. Other resources pin this number anywhere from four to 10 times more. However, any way that you slice it, acquiring new customers is expensive.

Frasier says that building a customer loyalty program will help you retain customers. It might also help you attract new ones as well. If there's a clear incentive to spend more money with you, it'll pay off in the long run. Build an attractive loyalty program and make it accessible to your existing customers and watch sales skyrocket over time.

5. Identify new opportunities.

Analyze new opportunities in your business by understanding your demographic better. Understand everything from distribution channels to your direct competitors, and even an analysis of foreign markets and other potential industries. There are likely dozens of new opportunities you could pursue immediately with the proper amount of analysis.

(Video) Strategies for Quickly Expanding Your Business

Related: 25 Common Characteristics of Successful Entrepreneurs

6. Build an email list.

One of the most best and most effective ways to grow a business quickly is to build an email list. Clearly, that means you need to have a lead magnet. Why else would people subscribe to your list? And, with a lead magnet, comes the necessity for a sales funnel. Look into companies like Aweber, ConstantContact, ConvertKit, Drip, GetResponse and others for building and managing your list.

7. Form strategic partnerships.

Strategic partnerships with the right companies can truly make a world of difference. It could allow you to reach a wide swath of customers quickly. Identifying those partnerships might be easier said than done. But, look out for companies that are complementary to your own. Contact them and propose opportunities for working together.

8. Leverage global platforms.

In the ecommerce business selling products? Why not use Amazon's FBA service? In the business of selling services? Why not use Upwork? In the business of renting vacation homes? Why not leverage AirBnB, InvitedHome, HomeAway or other global platforms? Find a platform that's reached saturation and use it to grow your business quickly.

9. Licensing deals

Doing licensing deals is a great way to grow your business without too much added effort. If you have a product that you can license to others and share a revenue of, that's an ideal way to grow quickly. Taking a popular or successful product and bringing it to a company with a large footprint can help you achieve market saturation quicker.

Related: I Started Saying 'No' to These 6 Things. My Life and My Business Got a Lot Better.

(Video) 15 Strategies to Start and Grow Your Small Business

10. Consider a franchise model.

If you have a successful business, and you're really looking to grow quickly, consider franchising it. Although franchise costs are high and moving to a franchise model is complex and takes a lot of marketing know-how, it could make all the difference if you're truly looking for quick growth.

11. Diversify your offer lineup.

Look into diversifying your offers. What complementary products or services or information can you offer in your business? In order to grow, you need to think about expansion. Identify new opportunities within your niche. Uncover the pain points. What else can you sell to your clients. Where else can you add value in the exchange?

Related: 9 Steps to Increase the Value of Your Business

12. Build passive income streams.

Growing a business takes significant effort. If you're dealing with razor-thin margins, consider building passive income streams. This way, you don't have to worry so much about keeping the lights on, so to speak. Passive income will afford you the opportunity to make mistakes and not have to lose your shirt. It'll keep you in business and provide a basis to grow and market and scale quickly by giving you ample resources.

13. Acquire other businesses.

Sometimes, acquiring other businesses is a very quick way to grow your own business. If you can find competitors or businesses in other industries that would complement your own, you could use them as platforms to scale fast. Take a look within your industry and even outside of it to find potential for potential opportunities.

14. International expansion.

Can you expand internationally? Can you take your existing offers and scale them internationally? What would it take to do business in Canada or Mexico or Europe? If you have a converting offer, international expansion could be a quick way to grow. You'll incur some costs. Sure. But, the potential for profits could be massive.

(Video) Oct 26 - More Q&A, and Brad has the 3-minute bell!

15. Create a webinar.

Webinars are a great way to promote any product or service. It can also help you grow any business relatively fast. Webinars provide an automated selling tool for literally taking any product or service to market and reaching a wide audience quickly. The webinar medium is great for captivating audiences to clinch sale after sale, automatically.

FAQs

How can I expand my business quickly? ›

Although growing your small business will take time and energy, there are 10 strategies you can use to help accelerate business growth.
  1. Do Your Research. ...
  2. Build a Sales Funnel. ...
  3. Increase Customer Retention. ...
  4. Participate in Networking Events. ...
  5. Practice Corporate Social Responsibility. ...
  6. Form Strategic Partnerships.

What are the 8 ways to grow your business? ›

8 ways to grow your business
  • Get to know your customers. ...
  • Offer excellent customer service. ...
  • Nurture existing customers and look for new opportunities. ...
  • Use social media. ...
  • Attend networking events. ...
  • Host events. ...
  • Give back to your community. ...
  • Measure what works and refine your approach as you go.

What are the 10 ways to improve business practices? ›

10 THINGS YOU CAN DO TO IMPROVE YOUR BUSINESS RIGHT NOW
  1. Identify your critical success factors. ...
  2. Keep score. ...
  3. Learn from the best. ...
  4. Create the future. ...
  5. Involve your people. ...
  6. Set goals. ...
  7. Make a plan.
  8. Develop systems.

What are the 4 growth strategies? ›

The four growth strategies

These are Product, Placement, Promotion and Price. Where the Four Ps focus on audiences, channels & pricing, the Ansoff Matrix is more effective for a broader view of markets and uses the older Four P framework within each of the 4 Ansoff quadrants.

What are the 4 types of business growth? ›

The four growth strategies
  • Market penetration. The aim of this strategy is to increase sales of existing products or services on existing markets, and thus to increase your market share. ...
  • Market development. ...
  • Product development. ...
  • Diversification.

What makes a small business successful? ›

Successful small businesses are customer-focused, which means they understand the needs of their current customer bases. Satisfied customers can drive profits through repeat business and referrals.

What are the types of expansion in business? ›

Different types of business expansion include purchasing new assets, opening new units, adding sales personnel, increasing advertising, adding franchises, entering new markets, providing new products or services, etc.

How can I grow my business in 2022? ›

How to Grow Your Business in 2022?
  1. Build a Strategy for Success. ...
  2. Boost the Online Presence of Your Business. ...
  3. Focus on Educating, Not Hard-Selling. ...
  4. Create High-Quality Content, but Keep It Simple and Clear. ...
  5. Organize Online Events. ...
  6. Focus on Personalization. ...
  7. Prioritize Customer Service.

How do you grow in a company? ›

How to grow within a company
  1. Determine your path. The first step to grow within the company is to ask yourself what you would like to achieve. ...
  2. Communicate your goals with your supervisor. ...
  3. Devoting outside time to growth. ...
  4. Continuing your education. ...
  5. Ask for a bigger challenge. ...
  6. Work with the team. ...
  7. Assess areas for improvement.
26 Apr 2021

How do you plan on growing your business? ›

The following can help you plan for growth:
  1. Set goals for growth. Establish what you want your business to achieve. ...
  2. Involve management and staff. Meet frequently with management and staff to review results and to monitor current performance. ...
  3. Control costs. ...
  4. Regularly review targets. ...
  5. Develop good systems. ...
  6. Also consider...

What are the top 10 successful businesses? ›

Top 10 most successful businesses to start
  • Social media management. ...
  • Cleaning service. ...
  • Business consulting. ...
  • Copywriting. ...
  • Graphic design. ...
  • Real estate brokers. ...
  • Online courses. ...
  • Pet services. For those who love our furry friends, starting a pet service business may sound like a dream job.
4 Mar 2022

What are the 5 strategies of entrepreneurs? ›

The Top 5 Essential Strategies For Entrepreneurs
  • Stay Focused. When you're starting a new venture, it's easy to get pulled in a million directions. ...
  • Build the Right Team. ...
  • Don't Be Afraid of Change. ...
  • Ensure Proper Funding. ...
  • Believe in Yourself.
20 Dec 2013

What are the three basic business strategies? ›

According to Porter's Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.

What are the key growth strategies? ›

Some common growth strategies in business include market penetration, market expansion, product expansion, diversification and acquisition.

How do I take my business to the next level? ›

21 Expert Tips To Take Your Business To The Next Level
  1. Reach customers in more ways than one. ...
  2. Find employees eager for a second chance. ...
  3. Use a 60/20/20 approach to time management. ...
  4. Dig deep into your numbers. ...
  5. Build and leverage strong cybersecurity. ...
  6. Make strategic acquisitions. ...
  7. Create a business toolbox.
3 Apr 2019

What are expansion strategies? ›

What is an Expansion Strategy? An expansion strategy is synonymous with a growth strategy. A firm seeks to achieve faster growth, compete, achieve higher profits, grow a brand, capitalize on economies of scale, have greater impact, or occupy a larger market share.

What are the 7 business life cycle stages? ›

A map of the road to success as a business owner does exist, and it is called the Predictable Success Model. The seven stages are Early Struggle, Fun, Whitewater, Predictable Success, Treadmill, The Big Rut, and finally, Death Rattle.

What are the 5 stages of business growth? ›

Every new business and start-up, big or small, goes through the five stages of business growth. These phases include existence, survival, success, take-off, and resource maturity.

What are the seven levels of business growth? ›

The seed, startup, growth, established, expansion, maturity, and exit stages. Each stage of growth in business is important because businesses are known to face different challenges at each stage. They also require different financial management practices at each stage to survive.

What are the 5 keys of business success? ›

Business Matters: 5 keys to success
  • Create a market-fit product. It sounds so straightforward, however, I see plenty of entrepreneurs starting their businesses without having a good product. ...
  • Focus on what's important. ...
  • Develop your leadership skills. ...
  • Look after your customer. ...
  • Find time to think.
14 Jun 2021

What are the 4 pillars of business? ›

Every business needs a handle on the four pillars of business: management, marketing, operations and finance.

How can a business increase sales? ›

  1. Be Present With Clients And Prospects. ...
  2. Look At Product-To-Market Fit. ...
  3. Have A Unique Value Proposition. ...
  4. Have Consistent Marketing Strategies. ...
  5. Increase Cart Value And Purchase Frequency. ...
  6. Focus On Existing Customers. ...
  7. Focus On Why Customers Buy. ...
  8. Upsell An Additional Service.
30 Mar 2021

What are 4 ways to attract customers? ›

Every small business owner wants to attract new customers. Here are 10 time-tested ways to help you bring in “new blood.”
  • Ask for referrals. ...
  • Network. ...
  • Offer discounts and incentives for new customers only. ...
  • Re-contact old customers. ...
  • Improve your website. ...
  • Partner with complementary businesses. ...
  • Promote your expertise.
6 Apr 2017

What are the six strategies to attract customers? ›

The following six strategies will help you attract and keep customers.
  • Offer quality products. Good quality is the most important reason cited by consumers for buying directly from farmers. ...
  • Cultivate good people skills. ...
  • Know your customers. ...
  • Use attractive packaging. ...
  • Let customers try samples. ...
  • Be willing to change.

What words attract customers? ›

10 Powerfully Persuasive Words Your Customers Want to Hear
  • Free.
  • Exclusive.
  • Easy.
  • Limited.
  • Get.
  • Guaranteed.
  • You.
  • Because.
2 Aug 2016

How do entrepreneur expand their business? ›

Common routes of small business expansion include: Growth through acquisition of another existing business (almost always smaller in size) Offering franchise ownership to other entrepreneurs. Licensing of intellectual property to third parties.

Why is expansion strategy important? ›

Several reasons explain why expansion is essential to companies, including: Make more money by selling more output to more customers. Increase competitiveness by building more enormous resources. Dominate the market by controlling a higher market share.

What are the common routes of small business expansion? ›

Common routes of small business expansion include:
  • Growth through acquisition of another existing business (almost always smaller in size)
  • Offering franchise ownership to other entrepreneurs.
  • Licensing of intellectual property to third parties.
  • Establishment of business agreements with distributorships and/or dealerships.
8 Jul 2021

What are business strategies examples? ›

10 Examples of effective business strategies
  • Technological advantage. ...
  • Improve customer retention. ...
  • Improve customer service. ...
  • Cross-selling products. ...
  • Increase sales from new products. ...
  • Innovation and pushing boundaries. ...
  • Product diversity. ...
  • Price point strategising.
8 Feb 2022

How do you want to grow professionally? ›

What to include in your professional growth plan
  1. Focus on long-term goals. ...
  2. Analyze job descriptions. ...
  3. Consider your personal expectations. ...
  4. Look for new opportunities yourself. ...
  5. Take on challenges when you have time to practice. ...
  6. Assess the training opportunities you have. ...
  7. Use what you are learning. ...
  8. Find a coach.
19 Sept 2022

How do you help your team grow professionally? ›

10 Effective Ways to Help Your Employees Grow
  1. Provide Professional Coaching.
  2. Offer Regular Feedback.
  3. Cross-Train Staff.
  4. Conferencing and Networking.
  5. Recognize Achievements.
  6. Soft Skill Development.
  7. Create Challenging Projects.
  8. Learning Management Systems.
24 Nov 2021

How do you grow personally and professionally? ›

10 Effective Ways to Help You Grow Professionally
  1. Set yourself a schedule. ...
  2. Always be on time. ...
  3. Accept constructive criticism. ...
  4. Learn new skills. ...
  5. Dedicate time for self-improvement. ...
  6. Always be polite. ...
  7. Separate work life and personal life. ...
  8. Be consistent in your performance.
26 May 2022

How do I 10X my business? ›

Put very simply, the 10X rule is taking any goal you've set for your company or sales team, and multiplying it by 10. So if a goal is to increase revenue by 5%, using the 10X rule, you'd increase that goal to 50%.

How can I promote my business locally? ›

How to promote your business locally
  1. Write a blog. ...
  2. Master social media marketing. ...
  3. Sign up for a local directory or local listings. ...
  4. Use locally targeted ads. ...
  5. Set up a direct mail campaign. ...
  6. Grow your email list. ...
  7. Get involved in the community. ...
  8. Promote a loyalty program.

What is the most important thing for a company to be successful? ›

Customer service and customer experience are major focuses of the most successful businesses. The first step is creating products and services that customers want. But focusing on customers goes beyond your products.

How can I sell my small business fast? ›

How to Sell a Business Fast: 7 Steps for Selling Your Business Quickly
  1. Review of Accounting Records. ...
  2. Business Operations Documented. ...
  3. Have a Marketing Plan. ...
  4. Hire a Business Broker. ...
  5. Plan to Target Buyer Prospects. ...
  6. Plan for Due Diligence. ...
  7. Collaborate for Successful Transition.

What kind of small business is most profitable? ›

Most Profitable Business Ideas
  • Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  • IT Support, Technology Consulting, and Repair. ...
  • Cleaning Services. ...
  • Accounting and Tax Preparation. ...
  • Auto Repair. ...
  • Real Estate. ...
  • Online courses. ...
  • Marketing and PR Services.

How can I get more customers for my business? ›

10 Ways to Get New Customers
  1. Ask for referrals. ...
  2. Network. ...
  3. Offer discounts and incentives for new customers only. ...
  4. Re-contact old customers. ...
  5. Improve your website. ...
  6. Partner with complementary businesses. ...
  7. Promote your expertise. ...
  8. Use online reviews to your advantage.
6 Apr 2017

What makes a small business successful? ›

Successful small businesses are customer-focused, which means they understand the needs of their current customer bases. Satisfied customers can drive profits through repeat business and referrals.

How do you increase sales? ›

  1. Be Present With Clients And Prospects. ...
  2. Look At Product-To-Market Fit. ...
  3. Have A Unique Value Proposition. ...
  4. Have Consistent Marketing Strategies. ...
  5. Increase Cart Value And Purchase Frequency. ...
  6. Focus On Existing Customers. ...
  7. Focus On Why Customers Buy. ...
  8. Upsell An Additional Service.
30 Mar 2021

How do I find business buyers? ›

Talk to friends, family, and other business owners. Head to local meet-ups or tradeshows where you can talk to brokers or potential buyers. You'll likely still want your business sale information online somewhere that you can easily direct interested parties to.

How do I prepare my business for sale? ›

Preparing to Sell Your Business
  1. Get a business valuation. ...
  2. Get your books in order. ...
  3. Understand the true profitability of your business. ...
  4. Consult your financial advisor. ...
  5. Make a good first impression. ...
  6. Organize your legal paperwork. ...
  7. Consider management succession. ...
  8. Know your reason for selling.
7 May 2001

What are the 10 business ideas? ›

Best Small Business Ideas
  • Handyman. Image Source. ...
  • Woodworker. ...
  • Online Dating Consultant. ...
  • Sewing and Alteration Specialist. ...
  • Freelance Developer. ...
  • Personal Trainer. ...
  • Freelance Graphic Designer. ...
  • Life/ Career Coach.
7 days ago

What words attract customers? ›

10 Powerfully Persuasive Words Your Customers Want to Hear
  • Free.
  • Exclusive.
  • Easy.
  • Limited.
  • Get.
  • Guaranteed.
  • You.
  • Because.
2 Aug 2016

What are the six strategies to attract customers? ›

The following six strategies will help you attract and keep customers.
  • Offer quality products. Good quality is the most important reason cited by consumers for buying directly from farmers. ...
  • Cultivate good people skills. ...
  • Know your customers. ...
  • Use attractive packaging. ...
  • Let customers try samples. ...
  • Be willing to change.

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