Ann Marie Puig explains alternatives for the expansion of a business
Date : August 8, 2022 By
A growing business must have defined policies, action plans in the event of a crisis, and ideas that promote and motivate the members of its work team. After starting a company, there are challenges such as boosting it, expanding it and maintaining it in the face of the different skills that arise in the market of the sector in which it finds itself. Ann Marie Puig, an entrepreneur and global business consultant, discusses some of the methods businesses can employ for expansion.
Therefore, the best is to start growing your business at the moment when you have discovered economic stability and a solution to the weaknesses you have. In this way, when you start exploring other fields, you will not encounter situations in which your venture may be at risk.
Delegating responsibilities to other members will be something you cannot avoid. When positioning and expanding, it is clear that the functions and demand will increase, so you will need support to continue providing that service or offering that product that makes up your portfolio. However, it would help if you remembered that there are some tasks that you as a leader will continue to perform, especially in legal and financial matters.
On the other hand, some recommendations will help you to act when you are at that point where you want to rise at a business level, and that will help you cover all the factors involved in moving forward.
Maintain a stable relationship with the customer. “Don’t forget that your customers and users are connected with other companies. Providing excellent service and a quality product will help you enhance your brand on different platforms and sales channels such as social networks,” says Puig.
Invest in the professional development of employees. A business’s success does not depend on its owner; the members of it must have all the necessary tools for good job performance. Likewise, allowing them to acquire new knowledge will make them feel motivated and keep your company stable.
Don’t stop innovating. This is one of the most critical aspects. Being in constant creation and launching of new ideas will convey that it is a business that continues to research and meets the needs of its customers.
Keep track of profitability. This depends on its stability to make profits in the future. Therefore, it is advisable to follow up and study it every time changes occur, confirming if it is enough to exceed the amount invested.
Women from all walks of life have proven that it is possible to become a successful female entrepreneur in this age of innovation, business knowledge and creativity.
These examples of how to overcome adversity show that a simple dream can be recognized and turned into a great achievement. An idea is the foundation of everything. All it took to be a successful entrepreneur was an idea. This is the beginning point for any idea, no matter if it’s for a product or service. The motion is created by turning that idea into an actual business.