Expansion & Growth Strategy
Position yourself for success in new markets and product lines
Growth strategies tend to fall into one of four main areas;
“Larry facilitated the introduction of my product to a large international brand which is now carrying my product. I wouldn’t be working with and expanding into larger corporate buyers without his expertise in the corporate world.”
Julie Roller, Founder/CEO, Bluestone Imports
- Product development,
- Market development,
- Mergers & acquisitions, and
- International
By creating a plan, examining your current position, and analyzing your industry, I can help make sure your efforts are directed appropriately and you are primed for success.
My proprietary inventory and cash flow management tools can make sure you focus your efforts on the key components for your growth to accommodate market fluctuations and unforeseen hurdles. Being prepared will give you the edge you need to follow through on your expansion dreams, whether they are based on location, product line or supply chain.
Step-by-step approach to expanding your business
As we expand into new markets and product lines, deliberate forethought and preparation are key. Each potential pitfall can be avoided by careful consideration and planning. First we lay the groundwork, then we tackle each phase of your expansion with these crucial steps:
“I call Larry at critical turning points when I need to review my thinking and make sure my plans are sound. Fleshing things out in their fullest, my takeaways are these new ideas, better plans for executing the vision, and confidence that I’m on the right track.”
–Eric Rupp, President/CEO, Venture Associates
- Assess current competitive position
- Identify new markets and/or target customers to pursue
- Gauge organic growth opportunities
- Determine integrative growth strategies
- Horizontal - acquisition of a competitor
- Backwards - acquisition of a supplier
- Forward - acquisition within the distribution channel
- Consider current and potential financial position
- Forecast cash flow and profit/loss
- Assess additional capital needed, if any
- Identify financial relationships; private and commercial
- Evaluate new competitors
- Craft new strategic plan and path
- Determine new channels of distribution
- Market Penetration
- Market Development
- Strategize communication with the market(s)
- Identify potential pitfalls and how to avoid them
Once we have determined the plan, you are ready to move into new markets and product lines, giving your business opportunites for unparalleled growth and expansion. Call today to get started.
