What to invest in to grow your business
When you start generating the first profits in your company; What you most want is for it to continue to grow and obtain more and better results; why investing to grow your company is more an obligation than an option; However, what you should review is what are the best options to invest in your company.
The growth of your company can take various forms, either through the acquisition of new customers; or expansion to new markets or countries. Therefore, an analysis is necessary to develop a strategy that adapts to the capabilities of your company.
That is, there is no same plan of action for all businesses; each one is developed based on the possibilities and capabilities of each company; so that, growth helps your company to consolidate in the market and increase its sales.
That is why we offer you below some of the options in which you can invest to grow your company ; and so you make the most out of the resources you have and you can multiply your profits and expand.
Why invest in my company?
It is an achievement to get rid of expenses and debts, as well as observe the first free profits of our business; However, the challenges are just beginning, and the survival and growth of your business depends on a correct investment.
Currently a company or business can not be satisfied with obtaining constant and static profits month by month; It is necessary to perform an analysis to decide what are the opportunities that the business has to reach another market or more consumers.
So then when you have a base of fixed clients and good and constant profits; It’s time to prepare the next step for your company; in order to encourage growth and not fall into stagnation.
Options to promote the growth of your company
When we have analyzed the feasibility of growing our business, we ask ourselves what are the best options; Increase our customer base? Increase the number of sales? Or maybe open more branches ?. Although all are viable options, you must choose the one that is appropriate to the possibilities of each company; thus, the elaborated strategy will yield the results that are expected.
# 1 Make a conversion funnel
To promote growth in your company, you must know how your company managed to acquire the customers it has; If this is not the case, then it is essential to design a conversion funnel, which is also known as a sales funnel.
A conversion funnel helps you scale and grow simply and quickly; that is, to be very clear about how many prospects you get through different channels and what options you have to grow.
For example, if you have a company that sells products for bars, cafes and restaurants; being your customers stronger, the personal sale with owners of those establishments; how to apply a measurable growth strategy; It would be through other means such as digital.
That is, through a digital strategy that allows the development of other means of acquisition; as are visits and purchases to a website, and interaction on social networks.
With the conversion funnel, you will have much clearer goals to follow; the means you will use and the results you will get.
# 2 Investigate your competition
When you are planning the idea of investing to grow your company ; It is almost an obligation to observe what your direct competition is doing; in order to analyze business opportunities and learn from what they are doing well; to develop a product that is better suited to the needs of consumers.
This is your chance to attract more customers, even those who are married to your nearest competitor; You will offer a quality product that will exceed your expectations.
# 3 Find business partners
Finding strategic partners from the right companies can make a quite remarkable difference. Having a commercial ally allows you to reach a greater number of potential customers in a short time; hand in hand with a company that knows its target perfectly.
Look for companies that complement yours or that you can complement your products or services very well; Work on an attractive proposal for both and manage to increase your profits in a short time.
# 4 Use global platforms
If you are dedicated to the sale of products and want to try in the digital world; and you want to reach international markets, then you can try global internet sales platforms like Amazon.
The same happens if you have a hotel or hostel; You can offer your services through AirBnB or any other platform that allows you to make purchases globally.
How can a company invest?
Now, to get some of the above strategies to give you good results; It is necessary to make some investments within your company; like the purchase of stock, modern machinery or the services of a digital agency.
So then, what to invest in to grow your company ? Next we will give you some options; that you must take into account and analyze the relevance of allocating resources to these options.
According to the research carried out by Konfío, SMEs in Mexico that apply for a SME loan; allocate the resources to:
- Finance an important project
- Expand or open new branches
- Cover the payment of debts
- Invest in machinery and equipment
- Invest in marketing and advertising
- Cover emergency expenses
So then we realize that the main preoccupations Gargeryations of entrepreneurs like you; is to grow and improve your company. With this, it is intuited that invest to grow your company ; it’s about finding the points that can boost it; So then, we give you these tips:
Invest in digital marketing
At present it is very easy to find information about a product or service that we need; Simply write in our search engine the word we are looking for and we will automatically obtain results.
So then, have a Google My Business record, have a web page and be active in social networks; It can provide important benefits for your business, which can boost it to levels you had never imagined.
Therefore, if your company has not yet begun to make a mark in the digital world; it’s time for you to start doing it to reach the clients that stay connected; and they have not found the company that meets their true needs.
If you want advice on what digital marketing strategy is ideal for you; As well as the results you can get, contact us for free advice.
Invest in modern machinery
When you modernize the machinery and tool that you use for production within your company; you have the opportunity to increase the amount of production; as well as guarantee the life of your team for a longer period of time; without fearing that this may suffer a defect and delay production.
Therefore, invest to grow your company through the equipment and machinery you use; It is a great opportunity to increase your sales and expand your list of customers. Do not doubt that modernize your factory or workshop; be a good option to invest.
Invest in an emergency fund
With the recent earthquake that we lived in the center of the country, many businesses were affected; to the point of not being able to rejoin Gargeryerar not even the work team they used; that and the collapse of many buildings left us as a lesson the need for insurance and, above all, for an emergency fund; to deal immediately with this type of situation without affecting the operation of the company.
An emergency fund allows you to face natural catastrophes that can affect our company or business; and whose consequences are not in our hands. In the same way, a fund is ideal to cover the expenses of any type of emergency; that can go from the damages that suffer some of your main work teams; until a huge project that requires more investment.
Investing to grow your company is possible and will give you very good results; as long as you perfectly analyze all the options you have; that is, the first step is to identify how your company is generating profits; discovering the origin of your clients; to then analyze the options you have to reach other consumers.
Likewise, an investment is not necessarily just about “spending” the profits you have earned; it is also worth keeping that money in an emergency fund that allows you to face any event in the future; from natural disasters to huge projects.
In your hands is to get the most out of all the resources of your company; to be able to guarantee the life time of it and maximize the profits you are getting. Always keep in mind that your company is a producer of jobs; and the welfare of your workers depends on good decisions.
We are interested in your opinion:
- What are the most important investments you have made in the life of your company?
- What are the options that your company has in case of an emergency or an important project at the door?
- What other projects do you consider important to invest in a company?