Know your Business; Grow your Business
Once your business is established and you are making a profit on the products and services you are offering to your customers, it's never too soon to start thinking about the future and how your business can begin to expand.
The following article features in Export Northern Ireland 2016, available here.
In the rapidly changing face of the world today, business owners must be innovative and proactive in developing their business, making sure their offering meets their customer needs whilst taking initiatives to maximise new opportunities.
Whilst a core direction for growth is increasing sales, it is also important to understand how to sustain and ultimately improve profitability.
As well as increasing the volume of sales to your current customers and earning new customers, other areas that you can focus on for growth include:
- Improvement of existing products and services
- Development of new products and services
- Improving systems and processes
- Increasing employee numbers and up-skilling existing employees
- Seeking funding for investment
- Looking at alternative channels and markets to sell your product and service
Our experienced team can help you to evaluate your business, looking at the strengths, weaknesses, opportunities and treats. Using our business health check model we can work with you to examine all areas of your business, present our findings and work with you and your team to implement our recommendations.
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.