"Within one month our revenues had jumped over 50%."

How to Expand Your Company: The Smart Way

How to Expand Your Company: The Smart Way - View inside a hot air balloon

Take your business to new heights

Conquering your market can be a great achievement, but it can also open your company up to bigger opportunities.  Setting your sights on expansion can be a huge undertaking, but if properly done the rewards of succeeding can be astronomical.  To assure a smooth expansion, there are a few things that need to be taken into consideration.  Figuring out which market to expand into, assembling a team that you can trust and easily communicate with, and having data and information accessible, integrated and set up by a company that specializes in integration solutions are all valuable considerations when making the move to new markets.

Figure Out Your Desired Markets

Before you expand, it’s important to figure out how many other markets you plan to expand.  If your company is just starting to grow, it is best to keep your expansion gradual.  Do not over-extend yourself and keep your growth to your key markets.  Where the key markets are will depend on what your services actually are.  If you were an advertising agency based out of New York, for example, London or Tokyo would be overseas markets you should look into.  If you only have offices in Pittsburgh on the other hand, it would probably be best to expand your offices within the United States before moving into foreign cities.

It is important to remember that expanding to new markets in the US can be nearly as risky as expanding worldwide.  The US is comprised of many different business landscapes and subcultures.  Being aware of both your product and where your product would be appreciated the most are great considerations to make before you start to make your move.

Assemble an Expansion Team

If you’re looking at taking your company into new markets, chances are you’ve got a great team working in your flagship offices.  Hiring a team for your new office that you trust as much as the employees you already have will help ease any apprehension of expansion; perhaps some of your current employees would be open to a transfer.  Opening a new office could provide someone with an opportunity for a promotion they wouldn’t otherwise be in line for at the current moment.

Otherwise, fill the office with people you can trust.  It is possible you can assemble a team of capable people through recommendations or by trusted headhunting services.  Any way you do it, having a great team in each of your offices can help reassure you that the move to other markets will be successful.

Get Everyone on the Same Page

Having multiple offices in different states and potentially around the world does look nice, but it means nothing if they are not acting as the same entity.  Being able to effectively and securely share business information enables every branch of your business to be on the same page and maximize their effectiveness in their local target market.  Integrated mobile business solutions enables new branches, located anywhere, to replicate the success of your primary office that is choosing to expand.

Each branch should be working as a cog in an overall machine that is your company.  Providing each office with access to the same data will assure that each arm of your company is running the same playbook and branding itself all in similar fashion.  Working off the same information will provide your company with the ability to work in unison, but it can be a bit overwhelming to set up for those not familiar with this sort of technology.  If designed and implemented incorrectly, a server, and its respective integrated mobile counterparts, can cause serious issues and delays in business expansion.

This is why it is of the up-most importance to utilize the services of a company that specializes and has real world experience in the proper implementation of information and mobile integration solutions.  They can take the daunting task of connecting your expanding offices off of your hands while you make sure other aspects of the expansion go just as smooth.

About the Author

Ashely Wilson is a part of a team of writers who enjoys writing about business. Follow her @AshelyMarie1985 to see what else she has to say!

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Author:Globial International Business Team

The Globial International Business Team researches, analyzes, and reports on all things related to global trade and business.

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