Looking Ahead: Expanding a Small Business

The innovations in technology and business have opened many opportunities for small business to thrive. The thought of expansion is no longer a far-fetched dream. With the right tools and an action-oriented mindset, growing a business is achievable. Here are some ways on how entrepreneurs can go beyond their current resources:

Pioneer and offer the business as a franchise
If there are many people who believe in a business model or idea, they will try their best to copy it. Instead of dealing with copycats, entrepreneurs can retain their status as trailblazers by offering their business as a franchise. This will also prove to be more convenient for those who want to start a business of the same nature. More people will be involved, which could result in more ideas and breakthroughs.

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Image source: Newyork.com

Open a new location
For business owners who want to keep the management team exclusive, opening a new location is a good way to expand. Especially when a business is starting to grow an interesting consumer base that is far from the original location, it would be practical to get another space to welcome more patrons.

Use the internet
When it comes to selling unique products, bringing them to the Internet’s attention is a sure-fire way to increase sales. This is especially true if the products are reliable. If word-of-mouth fueled businesses in earlier generations, word online is the way to increase awareness nowadays. Entrepreneurs shouldn’t fear the online world but embrace it instead, as it opens them up to millions of potential customers. Creating a social media account and an online store is one easy way of expanding a business.

Two attractive young people discussing business behind the counter of their deli
Image source: Entreprenic.com

Business owners aspiring for growth must take action in order to bring their services and products to the world’s attention.

Brian and Jenn Dougherty are the founders of Dougherty Marketing in North Carolina. To know more about its services, visit the company’s official website.

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The Power of Mentorship in Business Success

Every successful entrepreneur credits a mentor. Even accomplished business owners reveal that somewhere along their journey of building a company, they have received advice and support from a mentor who has bolstered their success. Mark Zuckerberg, the tech genius behind Facebook, named Apple founder Steve Jobs as an important mentor who has helped him start his company and build his management team.

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Image source: aiabaltimore.org

A mentor is one of the most powerful weapons an entrepreneur can have. Finding a good mentor and accepting guidance is the first step to growing a company and increasing its odds of success. Mentors help entrepreneurs think through a business idea and spot holes in their plans. Additionally, they offer solutions to anticipated business risks. Mentors can identify potential problems more effectively because they have an unbiased look at the business. A great mentor can help business owners avoid predictable mistakes and to start off with more confidence and certainty.

Mentors play an important role in a company’s success. They suggest ways to generate capital and provide the wisdom and experience every startup or seasoned entrepreneur needs. They also help widen a business’ professional network through strategic partnerships and connections. Mentors guide entrepreneurs in every step of the process of building a successful business.

An entrepreneur guided by an experienced mentor is more likely to succeed. Accepting criticism, learning new habits, and taking sound business advice from a veteran business mentor has numerous benefits. A good mentor is a valuable asset who helps business owners find stability and success.

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Image source: wildfirehub.com

Dougherty Marketing helps individuals start their business and achieve success through mentorship and training. Learn more about the company’s vision of creating opportunities for success through its official website.