Looking To Expand A Small Business. What's The Best Way To Go About This?

Question

Looking To Expand A Small Business. What's The Best Way To Go About This?

Answer 1

Look at the core of your business and see how you can make it more profitable. One way is to create an offshoot (or niche arm) of your business and develop it so that it functions both as a stand-alone unit and as a profitable extension of your main business.

Look for ideas from other successful businesses in your industry (and outside) and brainstorm ideas of how YOU can improve them to create something new. Some of the most successful businesses around are those that utilize the concept of a 'community' and build their business around it. Branding your efforts is as key as improving them over time.