Expanding your business and growing in to new sectors can be a difficult task. In the era of climate control concern, re-thinking your environmental policy can result in growth into new, previously unexplored and untapped areas. For example, getting your business an environmental management system like an ISO 14001 accreditation can help you reduce your environmental impact. ISO 14001 does not discriminate between industries and sectors and is completely universal. Not only will your business become more competitive and able to expand and appeal to more clients, you will benefit from cost saving with regard to waste. Possession of an ISO 14001 certificate shows that your business is focussed on the future and demonstrates your commitment to reducing environmental impact. It will also protect against future legislation regarding the environment.
You may be surprised to discover that Wal-Mart are one of the most environmentally friendly companies in the world. Their project towards sustainability has seen the company re-use or recycle 64% of their waste and just by installing energy saving light bulbs they saved over $5.2million a year. If Wal-Mart is able to undertake sustainable and environmentally friendly measures, then your business will be able to too, allowing for more profit and investment in other areas of your business. Perhaps with the energy saving reductions, you will be able to hire and train an apprentice for one of your sectors or you could consider new investments or growth into markets abroad.
Additionally, developing a strong web presence is essential if you wish to expand your business. Ensuring that you rank highly in Google and other search engines will undoubtedly result in a growth for your business, particularly due to the expectation that online spending will exceed £37 billion by 2014. Marketing agencies exist that will help you create more traffic to your website and also generate more online enquiries.
Growth requires your business to penetrate new markets. This is always easier said than done but how exactly do you go about penetrating these new markets? Seek to recruit bilingual employees and you can utilise their skills to expand across the globe. At the same time, make sure not to forget your loyal clients and customers and devote just as much attention to retaining them as you do to the new market you hope to open up and explore.
Putting extra funding into your business will inevitably result in growth. Perhaps recycle some previous profits and put money back in to your business to enhance the areas that require improvement. This could range from investing in new technology such as computers, laptops and other equipment - which will also aid efficiency, to new staff and training.
Expanding your business is no easy task but thinking critically about the future of your business and the environment we live in can see you make important, effective cost saving results that will allow you to take the next important steps towards expansion.