How to Expand Business | Business Expansion | 5 Strategies to Expand Business | Expanding Business
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The end objective of any business is to be profitable. The way to do that is by eventually getting it to a stage where you can scale it, grow it and expand it.
Expansion is not just about generating more revenue and profits than the previous year. Expansion of business can happen in various ways- geographical, product diversification, mergers, seeking out, etc.
Watch this video to learn the 5 strategies of expansion of business and see which one suits your business best to implement. Enjoy!
In this video, you will learn-
0:00- Introduction.
3:13- Introduction to strategies for expanding/growing your business.
7:22- 5 strategies.
8:23- Strategy 1: Geographical Expansion
Physical Expansion
Channel Building
Digital Market
11:40- Strategy 2: Product Diversification.
13:31- Strategy 3: Acquisition.
14:45- Strategy 4: Mergers.
16:11- Strategy 5: Sell-out to Cash-out.
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