Small Business:
Ideas for Growing
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Form an alliance. Aligning yourself with a similar type of business can be a powerful way to expand quickly. Form partnerships to help operate more effectively, while also giving you time to focus on other aspects of your business.
Diversify. Diversifying is an excellent strategy for growth, because it allows you to have multiple streams of income that can often fill seasonal voids and, of course, increase sales and profit margins. Here are a few of the most common ways to diversify:
◦Sell complementary products or services
◦Teach adult education or other types of classes
◦Import or export yours or others' products
◦Become a paid speaker or columnist