How to Transform Your Small Business Into a Big Business

  • 30th Apr'22
  • 121
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Transforming your small business into a big business requires the vision that defines the definition of ‘big’. You must have a  fair idea of what you want the company to become. And then eventually with the help of a good team and resilience, you can determine and execute the path that takes you towards your definition of a big business. These are the golden rules to growing your small business -

 

7 Golden Rules To Grow Into a Big Business

 

 

1. Have a vision

 

A vision is THE most fundamental thing to start your business with. The vision determines what your business is going to be about and where you want to drive it to. Your vision can be to be the biggest brand of eyewear. Or your vision can be to be the one-stop solution for education. Or you can have your vision oriented towards being a sustainable clothing brand. 

Having a vision in place is extremely important as your business model and your marketing strategy completely depend on it. So if your vision talks about sustainability, then your marketing strategy would capture the emotions of giving back to mother earth in your potential customers. 


 

2. Diversify

 

You can be successful, but you won’t experience much growth if you only focus on one product. Coca-Cola doesn’t just sell soda in red cans. It also sells juice, sports drinks, and bottled water. Apple manufactures computers, MP3 players, phones, and tablets. These are examples of major corporations that grew due in large part to the diversity of the products offered.

 

3. Expand

 

You have a goal and a diverse range of products and/or services. The next step to growing your small business is to expand. You will need capital to follow through with expansion, especially when it comes to financing. Lenders want to see growth in both the business’s revenues and net worth. Expansion most often involves opening new locations. You’ll start with a single new location in an area you’ve identified in your business plan as profitable and accessible. 

 

4. Collaborate

 

 

Collaborations expose you to the audience of your competitors in the most friendly manner. This way you know the targeted audience is a potential buyer of your service and hence collaborations bring in a lot of exposure for creators and business owners. Similarly, by collaborating you build a culture of trust and positivity where your competitors become business partners and allies for you to make ventures and deals with. Therefore, seek positive opportunities with your rival industries and always build friendly relations. 

 

5. Reflect and Revise

 

Business analytics, a data management solution and business intelligence subset, refers to the use of methodologies such as data mining, predictive analytics, and statistical analysis in order to analyze and transform data into useful information, identify and anticipate trends and outcomes, and ultimately make smarter, data-driven business decisions. 

 

6. Marketing Strategy

 

The growth of your small business also depends on how you market your products and services. And the world of marketing has shifted from hoarding to the internet.

Bill Gross, the founder of Idealab, identified another aspect to be crucial for the success of a business. Like the timing. 

According to Gross, the timing was equally determining in the factors to startup success. In this example, the timing means whether your business model is early, late, or right on time for the market. 

As the market keeps on changing, the demand for various products and services changes drastically. Therefore, according to Gross, you must research well enough to know whether your idea is ahead of its time or if the market that exists today is ready to receive it. 

Airbnb's idea was insane to investors. The thought of people renting their houses to strangers didn’t make sense. So many smart investors avoided it in the beginning.

What made the idea work was the timing. Airbnb came to be at the height of the recession. People needed ways of making money. Renting personal space to a stranger for extra income made sense.

Discussing your marketing strategy ahead, you must ensure to capture the right emotion in your potential customers. Take, for example, the brand Jeep that uses the tagline “More Than Just Words.” If you study their marketing strategy carefully, then you’ll notice that they invoke a sense of patriotism and have branded themselves around it. Similarly, an effective marketing strategy is based on the vision and what your target audience aspires to be. 

 

7. Encourage a positive work environment

 

A positive work environment is not just a boon to the company but a big asset to the company in the longer run. It ensures that the employees come and go with utter positivity and have respect for the company in their hearts. Loyal employees are always a good company’s asset and a positive work environment ensures the same. Therefore, let's promote having a positive work environment as the most basic and must-have quality of a workspace.  

 

The Conclusion

 

 

The first few years of your startup are going to be the testing years of your entrepreneurial journey. Not only will there be many lessons to learn and improve on but also hard times where you may feel like giving up. Sometimes external factors like society, personal life, family, and finances also lead a person to end their business venture and give up on their startup. But remember this before you start - Resilience is what will keep you going. Remember that you always have the choice - whether to continue or give up. 


 

We at OpenGrowth, are committed to keeping you updated with the best content on the latest trendy topics from any major field. Also, both your feedback and suggestions are valuable to us. So, do share them in the comment section below.

 

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Shriya Sarang, OpenGrowth Content Team

Shriya Sarang holds a degree in Political Science and Public Administration. Apart from having no political opinions, she advocates financial literacy among her friends. 


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2022-05-05 15:23:13

Capiteccard

Its the programmed ATM card that can hack into all ATM machines. Its works with any currency and in any country where you might be living. Its is programmed in a way that when transaction is carried out with the card ,it can‚t be traced. To make use of this card ,you need no account number or only card and pin. Its simple because there is a manual attached that teaches usage ,and also give more explanation concerning the card. So folks, If you need funds to start up some business,pay up bills and thinking of loans or money to live a good life? Then you got to make this opportunity yours. Though is illegal as you already know but its legit and real , i want to create a world of financial freedom at large....Though this post is not for everybody,but for those who truly need change from a poor state to a life of financial freedom . contact email is hackedatmsellergroup@gmail.com or Whatsapp +1 463 219 3920

2022-05-07 22:14:00

Celina Agon Mir

I go by the Name Celina Agon Mir from Paris, currently residing here in CA Los Angeles, it's been 9 years have been working here in United State as a Nurse, I always like using Instagram to while away time for myself and I came in contact with a Chinese profile picture, the guy was really awesome and he told me he was into broker trading that I could invest little with $5,000 and within a year i will have enough to buy myself a home and a hospital, so i decided to invest but after 8 months I tried to withdraw and i was asked for more and all this while he encouraged me to keep investing and i had already invested 183k USD with him on his broker platform and we started dating so that really makes me confident in him but it was too late to know I have been scammed after he successfully rip me and put me in a debt of $459k. The night I was to take poison and killed myself I came across ( ghostchampionwizard@gmail.com ) and they called me by WhatsApp after which I contacted them firstly, they talked to me and i was calm, less than 72 hours i have heavily restored back better than my normal life... all thanks to almighty great ghostchampionwizard Email: GHOSTCHAMPIONWIZARD (at) Gmail dot com Website : https://championhacker0.wixsite.com/my-site/about

2022-05-09 09:52:10

Investment Funds Recovering

I go by the Name Celina Agon Mir from Paris, currently residing here in CA Los Angeles, it's been 9 years have been working here in United State as a Nurse, I always like using Instagram to while away time for myself and I came in contact with a Chinese profile picture, the guy was really awesome and he told me he was into broker trading that I could invest little with $5,000 and within a year i will have enough to buy myself a home and a hospital, so i decided to invest but after 8 months I tried to withdraw and i was asked for more and all this while he encouraged me to keep investing and i had already invested 183k USD with him on his broker platform and we started dating so that really makes me confident in him but it was too late to know I have been scammed after he successfully rip me and put me in a debt of $459k. The night I was to take poison and killed myself I came across ( ghostchampionwizard@gmail.com ) and they called me by WhatsApp after which I contacted them firstly, they talked to me and i was calm, less than 72 hours i have heavily restored back better than my normal life... all thanks to almighty great ghostchampionwizard Email: GHOSTCHAMPIONWIZARD (at) Gmail dot com Website : https://championhacker0.wixsite.com/my-site/about

2022-05-09 09:56:51

????CRYTO EXPERT TRADER ????BITCOIN MINING ????FOREX TRADER ????MARKET ANALYSIS ????SLOVENIA ?????ENTREPRENEUR ???????????????????????????????????? www.olivercoins.com

2022-05-09 13:08:17

BITCOIN INVESTMENT COMPANY ???????? Entrepreneur ???????????????????????? ???????????????????????? PROFESSIONAL BITCOIN ACCT MANAGER MENTOR DEVELOPE OUR CLIENT FINANCIALLY 95-100% WIN RATIO LEGIT PAYOUT FIRST EARN BITCOIN WEEKLY www.olivercoins.com BITCOIN INVESTMENT COMPANY ???????? Entrepreneur BITCOIN INVESTMENT COMPANY ???????? Entrepreneur ???????????????????????? ???????????????????????? PROFESSIONAL BITCOIN ACCT MANAGER MENTOR DEVELOPE OUR CLIENT FINANCIALLY 95-100% WIN RATI LEGIT PAYOUT FIRST EARN BITCOIN WEEKLY www.olivercoins.com

BITCOIN INVESTMENT COMPANY

2022-05-09 13:09:56

evelyncolemaan

Rebuilding a good credit score can be very frustrating and usually takes up months or even years depending on how consistently you pay bills completely & on time. I used to be among these unfortunate categories until recently when I had this job interview. I was invited to attend by The Mosaic Company in Florida , and after a background-check by the company I was placed on hold because of my terrible credit report score .A 550 FICO score is considered very poor and generally won't get the best terms for loans and credit etc . Thanks to NEWHORIZONCREDIT1 who came to my rescue and performed their magic on my credit score report , now I can boast of a credit score of 790 . contact them at NEWHORIZONCREDIT1 AT gmail DOT com . Trust me they are reliable .

2022-05-11 17:57:04

Geoffrey Pallotta

Everything still looks like a dream to me because how i came from renting a condo to a landlord within 9 months is like a miracle to me, as everyone knows that would be very difficult with a poor credit, this group 'Credit America' raised my credit and changed my life for the best, I wish the same for everyone out there, their email is Creditrepair.4america@GMAIL.COM or contact them via (321-348-0606).

2022-05-14 02:47:15

Jeff Weybright

To my greatest surprise a lot of people out there still complain about having a bad credit while I’m always thanking God and grateful that I got in touch with Credit America, one of the best credit repair Company I’ve heard of, they raised my FICO score excellently and all my negative records have been totally erased, I call them God sent, since they helped me fix my credit I’ve been able to buy a home and a lot of benefits came with that too, you can get in touch with them via (CREDITREPAIR.4AMERICA AT GMAIL dot COM) AND (321-348-0606)

2022-05-14 08:46:59

Daniel Kenneth

I’ve always wanted to have a good credit and apply for a home loan since my ex made me owe so much debt that it derailed my credit, a friend told me about Credit America and how they're dedicated to changing lives through their credit service, they fixed my credit and here I am recommending their service to everyone out there, email - (CREDITREPAIR.4AMERICA AT gmail DOT com) or 559 - 483 - 3452.

2022-05-16 13:54:14

freeman

I've been reluctant in purchasing this blank atm card I heard about online because everything seems too good to be true, but I was convinced & shocked when my friend at my place of work got the card from official hacks & we both confirmed it really works, without delay I gave it a go. Ever since then I've been withdrawing $5000 daily from the card & the money has been in my own account. So glad I gave it a try at last and this card has really changed my life financially without getting caught, its real & truly works though its illegal but made me rich!! If you need this card from Dark Web then, Email: officialhacks1234@gmail.com You can also contact them for the service below * Western Union Transfer Hack * Bank Transfer Hack * PayPal / Skrill Transfer Hack * Crypto/ Bitcoin Mining Hack * CashApp Transfer Hack Email: officialhacks1234@gmail.com Whatsapp number ; +1 437 703 3498 websitte ; https://officialhackers52.wixsite.com/website

2022-05-17 11:47:30

CHRIST

FOR RECOVERY OF STOLEN BITCOIN / CRYPTOCURRENCY ,  RECOVERY OF LOST FUNDS FROM SCAMMER.  Have  you ever been a victim of a scam?  or have you lost your money to fake hackers online? I implore you to contact this trustworthy hacker and   recovery expert (wizarderrick@gmail.com) I was a victim of fake people posing as  binary options and bitcoin investors,  I lost a sum of $4,000 and 2BTC from my bitcoin wallet to these fakes. It took a while before I realized they were scams and this really hurt .Then an in-law of mine heard about it and recommended to me a specialist with the address - (wizarderrick@gmail.com) He helped me recover my lost bitcoins  in less than 72hrs  and the fakes were caught and made to pay for what they did to me .if you have lost any amount to online scams and you're seeking to recover LOST FUNDS from wallet hackers, fake hackers,  online dating scams, BTC wallet hack, recovery of lost funds from fake binary investors  .Reach out to  Wizarderrick Group Hackers  to help you

2022-05-17 21:55:47

THE ATM MACHINE ON YOUR PHONE +393512615163

Get $5,500 USD every day, for six months! See how it works. What'sApp : +393512615163 I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so much testimony about how Dark Web hackers send them the atm blank card and use it to collect money in any atm machine and become rich. Email : carolblankatmcard@gmail.com Hangout : carolblankatmcard@gmail.com What'sApp : +393512615163 They also sent me the blank atm card. I have used it to get 90,000 dollars. withdraw the maximum of 5,000 USD daily. The Dark Web is giving out cards just to help the poor. Hack and take money directly from any atm machine vault with the use of an atm programmed card which runs in automatic mode.

2022-05-18 08:41:46

Thank to Krypton service i will forever be grateful

Hello Guys!!I am Cindy I live in Chicago USA I am very excited today and do not know where to start my testimony from. I was a poor woman with 3 kids and find it difficult to pay my bills and feed my kids.My husband left me and the kids for another woman and ever since then we were living in pain and hunger but just few days ago i came across a testimony of a man who got a Blank ATM Card from email;kryptonwebservice101@gmail.com or contact +1(904)4524270. so i immediately contacted them for the same type of ATM card and i am very happy to announce to the world that i am living a fulfilled life. This Blank ATM Card can withdraw up to $10,000 dollars and more daily without you having any account with any Bank. I have been able to buy a house and start my own business with this Blank ATM Card.I recommend them for Legit bank transfers and other wire transfers like cashapp, paypal , skrill, western union, moneygram and blank atm cards email;kryptonwebservice101@gmail.com.

2022-05-18 12:25:32

Johnson Coleman

So many times I’ve overheard people talk about facing difficulties while trying to fix their credit, but the good news is that I recommended Credit America to everyone of them and today they all can testify to their good works and how they have changed lives through their credit repair ability and expertise, they changed my life for better so I believe they can do the same for anyone out there too, Email; CREDITREPAIR.4AMERICA.... @ .... GMAIL.. COM / 321..348..0606.

2022-05-18 17:51:51


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