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Business strategy
How to advance in business from a small business
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[QUOTE="King bell, post: 332530, member: 75687"] To evolve a small business into a larger enterprise, it is vital to assess your current status, set specific objectives, create an online presence, diversify your product/service offering, streamline operations, ensure customer satisfaction, increase the market reach, invest on marketing and advertisement, establish strategic alliances with other firms, improve financial management systems, build an effective workforce or team of employees and upgrade technology and infrastructure. Seek for funding opportunities; and reinvesting profits back into the business for expansion. These steps will keep you on the growth trajectory and make sure that as a growing company you are financially sustainable. Being aware of industry trends; monitoring KPIs; creating a scalable business model; adhering to regulations and legal requirements; as well as ploughing back profits into the business for growth are paramount. You need to regularly reevaluate your strategies as you go forward in order to succeed. [/QUOTE]
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