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How to make small business into big business

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Making a small business into a big business is very difficult. In fact, it is only a small percentage of businesses that stay in business past the first year, let alone make themselves into big businesses. The most common problem with turning your small business into a big business is turning a small amount of money into a larger amount of money. Certainly this process is easier said than done. Nevertheless, it is possible. Below is a list of common methods that small business use to grow into big businesses.

Capital - Capital is the money that you have when you start your company. A venture capitalist in someone looking to invest capital in a company and who expects to see a return on their investment as your company grows. Selling yourself and your business ideas to a venture capitalist or any other party willing to contribute to your cause can give you the valuable income that you need either to start your business or to make it grow.

Merger/Partnership - Sometimes when there are two like companies or when the products or services of two companies are complementary, it is in the best interest of both companies to merge or to become partners. By combining two companies you gain sources of income, resources and the knowledge and experience of others. Doubling the forces of your company may put you in a position with less authority or power, but it just might give you the extra energy that you need to keep your business afloat. Better to merge and have a part of a business than to loose everything and have nothing at all.

Advertising/Marketing - It is amazing what a good marketing team and a little advertising can do. Some companies have become famous simply because of a popular catchphrase used in their advertising. In order to increase sales and make your company grow, you need more customers. You get more customers by making them aware of the services that you offer. The best methods to inform the public lie in advertising.

Go public - Some companies see a good amount of growth and have public interest but they need even larger amounts of money to see the growth that they want. These types of companies may choose to go public and offer portions of their company for sale in the form of shares. Money from shares does not need to be paid back. What you sell in ownership rights you aim to make back with the resources that the additional money can buy you.

Get a loan - If you are not in the position to offer your company for public purchase or you simply do not want to give up some ownership rights, you can consider asking the bank for a loan. Be careful, because a loan is money that you promise to pay back regardless of whether or not your business grows.

Widen target audience -
Sometimes in order to gain more customers you have to widen your target audience. Sears is a good example of this concept. Sears was doing relatively well in the home repairs and house wares market, but it wasn't until they introduced their "softer side" that they gained the spending dollars of the female population. As a result they are truly a financial force to be reckoned with.

Be available -
In order to gain more customers, increase your profits, and make your business grow, you need to make yourself accessible to as many potential customers as possible. This means that you need to have the means to provide someone with your product or location no matter where they live. For small businesses in today's high-speed world, online sales are a huge advantage. You do not want to have to turn away a potential customer because of an inability to serve them.

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Posted by DF
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