When a business ventures into new territory, it becomes a risky time. It’s often why you’ll find that businesses don’t venture into a new territory, instead they carry on in the calm waters that they know. But without venturing out, you won’t truly realise all of the great opportunities that there are out there. From building new connections, to discovering new products or services that you can sell, you should be thinking about doing it all if you want to grow your business. But we know how scary it can be to move into new territory, and it’s one of the reasons why business is usually a big gamble. Either your venture is going to work, or it’s going to set your business back a bit because the consumer you’re trying to attract won’t take to the new venture, or perhaps the old systems you had worked better for you. So this post is going to be about trying to get you to take a leap of faith, and show you what new ventures you should be taking!
Reach New Consumers
So if you’re only targeting one audience at the minute, then you really are limiting yourself. We understand that with some niches, such as fitness, you can only really target one type of person, and that’s someone who is interested in fitness. But is it really all you can do with your niche? As a business, we’re always looking to sell to the public, but what about taking a B2B approach. This opens up so many doors for you, including one to build connections with other businesses, which is something isolated niches rarely do. If you find government tenders for business, you will definitely be able to open yourself up for a new market, you just need to make sure that your business is ready for it. Not only will you have two markets to deal with, you’ll also have to tailor your products or services to suit both!
Develop New Strategies
New strategies should be flowing all of the time, because business is so versatile, and all you have to do is a bit of research to find one. So at the minute, if your strategy is to get your sales through your website, why not think about getting your sales through social media. You might find that you open yourself up to a pool of people who can now see your business, whereas relying on your website alone might not have been productive. Managing your own social media pages extensively can take work, but we don’t just mean the odd post here and there. You have to make it interactive, you have to be able to connect with people, and then you’ll be able to generate leads.
Discover New Areas
There will be plenty of new areas for your to discover, but by this we mean internationally and nationally. As a small business, you won’t tend to think about expansion, but as long as profit is being built, there’s no time like the present. If you were to set up shop in America as well as the UK for example, your turnover could nearly double!
