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[Brain]

One thing is to have a business,another hurdle to cross is to make it big, expand it and make it maybe into a conglomerate. What are the right steps to take and be sure of making a success of it??

 

[Shigobad2020]

There are many ways one could think of on how to expand an already existing business although I would say that the idea will differ from person to person.
One way to achieve this is by reinvesting back your profits into the business especially if you don't have an urgent demand for money at that time. Some people do take loans anyway and it's also good if the business has proven to be lucrative.

On of the way is in which you can expand your business is by saving and letting it accumulate before using it to upgrade you business and another way is by reinvesting every gain you make on the business to boost up the business immediately after making the gain

 

[Wisdom01]

Saving your gain is one of the best way of expanding your business and thats why its very good to not be spending all the gain you made from a business because you can use that amount of gain after gathering it together to expand your business at least.

yeah once your business is giving you more gains and profit ,your interest would be so high that you would love to reinvest into the business , at times it's good to even save your gains , because of unexpected expenses that might come the person way

 

[Juiseth]

Going into a partnership is one of the ways in which you can be able to expand and increasing business and e-business that you think as potential. For example if you want to take your business online then you can be able to partner with a technological company that is going to build a website for you and then you are going to help them in promoting their services.

 

[Shigobad2020]

One thing is to have a business,another hurdle to cross is to make it big, expand it and make it maybe into a conglomerate. What are the right steps to take and be sure of making a success of it??

Managing a business is not an easy thing to do , starting a business is one problem because of the issues of business plan and location you have to face, second one is knowing how to upgrade your business by expanding it through hardworking and consistency.

 

[Shigobad2020]

yeah once your business is giving you more gains and profit ,your interest would be so high that you would love to reinvest into the business , at times it's good to even save your gains , because of unexpected expenses that might come the person way

If your business is consistent and you are good at monitoring and managing your business , I normally save seventy percent of my profit with the aim of using it at some time when I now realise that the money is enough to expand or upgrade my business .

 

[Ivanr01]

Yes the opinion of yours is actually right , in the pandemic the demand for mask was on top and people sold their products for 3x so that is a triple growth and can happen only in real life business and such situations so always watch things with a close eye actually and make sure you are following top news as well in your business niche ...

 

[Shigobad2020]

One thing is to have a business,another hurdle to cross is to make it big, expand it and make it maybe into a conglomerate. What are the right steps to take and be sure of making a success of it??

I have heard stories about how small business started from the scratch and makes it big through their hard work and consistency and I have also seen many business crumbled and closed down , so consistency and hardwork with proper business plan is the key.

 

[Player1]

One of the best ways to expand your business successfully is to add new products and services to your business. Most business owners assume they can only expand their business when they under branches, though this is a good way to expand your business but before you think of opening new branches, it would be best you make sure the existing one can completely stand on its own and most importantly has a strong customer base.

 

[IB DD]

There are various ways to expand an existing business. You can either add a new product or open new branches. You can even do both. But I favour organic step by step approach to expansion. You can start adding the new products in small quantities to test the water z while increasing as the market responds favourably to it.

 

[iamawriter]

Until a business is well established one must not worry about how much profit they make. An established business will automatically have a bigger clientele and once customers are used to a particular product they will not mind if there is a rise in the price and that will be necessary for a business to survive.

Diversification is one way to expand.

 

[Gamer01]

you are right most of the business company always need to make their name in the market first and then the revenue will surely flow towards them actually to be honest , this is how the most of the companies are working for the success in the market and many of their customers are happy to have them working this way

 

[Wisdom01]

There are various ways to expand an existing business. You can either add a new product or open new branches. You can even do both. But I favour organic step by step approach to expansion. You can start adding the new products in small quantities to test the water z while increasing as the market responds favourably to it.

Introducing different social channels are important concerns plus consistent consideration that should be made by you , you should introduce all these when you want to launch a business development