Positive Business Expansion and Growth
Finding opportunity amidst uncertainty
Financial reports on increased profits can come from the business’s earnings as a factor of growth or expense reduction.
We need to analyse further to determine whether the business is increasing profits due to innovation that results in more profitable business and market growth or whether it appears to be increasing due to the cutting of expenses to hit profit numbers for investors?
In a period of global economic uncertainty it is prudent for businesses to reduce expenses. However this prudence is only justified to the extent that it also includes a plan for innovation leading to achieving more with less. This requires a mindset for deploying assets and talents in an innovative manner.
Thinking out of the box by setting new norms of behavior can lead to not just business survival but additionally an expansion trajectory in an environment where everyone else seems to be contracting their business.
The truth of the matter is, expansion is life and contraction is death. While it is very often true that 80% of our business comes from the 20% of loyal customers who need to be cultivated and encouraged to remain loyal, a growth strategy can ensure that not all our eggs are put in one basket.
Consolidation and expansion through innovation is a key to growth in an uncertain environment. The laws of nature after all suggest that the most adaptable are the ones that survive and thrive in the new stable environment that emerges.
Once the financial crisis in the European Union is finally resolved a new global prosperity will embrace those business that are able to offer the new products and services that the new economy demands.
Already businesses that have embraced social media and smart technology devices are finding markets globally through e-commerce. Websites are transforming themselves from mere e-brochures into e-stores that encourage customer relations that lead to e-sales.
Whatever your business, now is the time to do a market study to identify new growth markets and the fresh expectations of consumers. The Asia-Pacific economic growth is creating new opportunities for businesses in India, China, South East Asia and the West Coast of North America.
Seek out business consultants to work with your team to identify new markets as well as new trends that can help you channel innovation towards producing the next generation of products and services. This will help you to take the necessary calculated risk to achieve continued business growth through innovation.
International Business Consultant
Your connection to global markets!
Winnipeg, Manitoba, Canada, North America
The geographical centre of the world’s largest economy.
