Is Your Business Ready to Expand?

Last week, our webinar was focused on deciding if your business was prepared to export. During the webinar, and in the follow-up, we learned that some businesses were not exactly ready to export. Some businesses were actually afraid of exporting.

One thing companies should know is that they do not necessarily need to export to grow their business. Instead, companies can expand their business to different regions within their own country. It could be to a different state or province, or to a different area of a state or province.

And if a company does believe that they are ready to export, but they do not want to go into many different markets, or want to start out slow, try exporting to a country that is close to yours or borders yours. There may be similar languages and customs, and the transport costs would not be very high. Additionally, there may be free trade agreements in place between the countries. A good example of this would be the US and Canada, and even the US and Mexico.

If you want to expand your business, but you don't want to work on breaking into new markets, work on making the customers come to you. 21st century businesses compete regionally, nationally, and internationally, but also virtually. The Internet is a new market that many businesses are not focusing on as much as they should be. With the Internet, and with proper marketing and positioning of your company and its products, you can access many more markets than you previously would have been able to. Plus, because the technology tools are so inexpensive, you can possibly save money while reaching more people.

So, what are you doing to expand your business?

If you are interested in expanding into the virtual market, contact IntellaCore, or keep watching this blog for more information and details on future webinars.