How do you know whether or not the time is right to grow your small business? Of course, there are economic indicators that can provide clues as to whether or not now is a financially wise time to take on extra debt and increased business risk, but that won’t really help you decide whether or not the time is right for your specific business. Just because the economy is on the upswing, that doesn't mean you should necessarily expand. If you make analog clocks and the whole world is going digital, you might not want to invest in huge new factories and increased staff. So, how do you decide whether or not the time is right for you and your business? We've got a few tips below to help you make that decision.
Uncharted Territory. At some point your current client base will become “tapped out.” Your message will have reached everyone within your target market segment and they either will have become customers or elected to patronize one of your competitors. A little outside the box thinking can often identify new uses for your product or service and lead to the identification of entirely new markets. Remember, the inventor of the Slinky wasn't trying to make a children’s toy, he was just smart enough to market it as such once he realized the potential.
Lousy with leads. Anytime leads are pouring in seemingly on their own accord, you can assume that you’re doing something right. Your message is reaching the right audience and you are offering something they want or need. Too many leads is a good problem to have, but rest assured it is a problem.
Overworked (and Overwhelmed). If you, or your employees, are constantly feeling overworked or overwhelmed, that can be a good indication that you should think about expanding. Allowed to go on unchecked and overworked employees can be the downfall of your business.
Once you've reviewed all the signs and decided that you’re sitting on go, it’s time to come with an expansion plan. Check back with us next post for some tips on how to expand your business wisely.
Dependable B2B Appointment Setting Companies
Outsourcing is a great way to minimize your risk when expanding your business. Lease A Sales Rep should be your first choice as we are one of the best B2B appointment setting companies for outsourcing your sales force. We'll help you build a direct sales operation without the capital costs and management overhead of recruiting and training in-house sales people. We provide a variety of services including lead generation, appointment setting, telesales, inside sales, outside sales, trade show lead follow up, inbound call center, and services Espanol. Whatever your sales force needs include, Lease A Sales Rep has got you covered. Contact us today to learn more about how we can help you, and click here to like us on Facebook.