{"id":1499,"date":"2019-08-09T10:52:31","date_gmt":"2019-08-09T10:52:31","guid":{"rendered":"http:\/\/strategistsworld.com\/your-perspectives\/?p=1499"},"modified":"2019-08-09T10:52:33","modified_gmt":"2019-08-09T10:52:33","slug":"growth-strategies","status":"publish","type":"post","link":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/2019\/08\/09\/growth-strategies\/","title":{"rendered":"Growth Strategies."},"content":{"rendered":"\n<p><strong>1.Market share<\/strong>\u2014Under this strategy, your company seeks to capture a bigger share of your current market with the products it already has. For example, you can do so by increasing your marketing efforts or adjusting your prices.<br><strong>2.New markets<\/strong>\u2014Another strategy is to find new markets for your current products. For example, you can expand sales to a new city, province or country.<br><strong>3.Diversification<\/strong>\u2014You can also develop new products to sell to your current market and\/or to new customers. This can lead you into a related line of business or an entirely different one.<br><strong>4.Acquisition<\/strong>\u2014Buying another company can be a cost-effective way to increase market share, capture new markets or diversify. This strategy gives you an established clientele and operation, which you can adjust to add value. Acquisition may be a good strategy if you want to expand into a new geographic location or to another country where you lack contacts and local knowledge.<br><strong>5.Buying a franchise<\/strong>\u2014You may also consider acquiring a franchise. Such a business usually comes with name recognition, serious marketing power and support from the franchise owner. But be sure to investigate all your costs, including start-up fees, royalties, advertising and supplies.<br><strong>6.Franchising your business<\/strong>\u2014Franchising your own business can be a successful growth strategy, especially if you have a profitable operation that can be easily replicated by others.<br><strong>7.Strategic partnerships<\/strong>\u2014Another common growth strategy is to pursue partnerships with other companies. A partnership can be as simple as an informal agreement between businesses in complementary markets to refer clients to each other.<\/p>\n\n\n\n<p>More complex partnerships include joint ventures (in which two or more businesses pool resources to pursue a common project).<br><strong>8.Repositioning and efficiency<\/strong>\u2014Under this strategy, you target growth in your profit margin by repositioning your products or improving your efficiency. <\/p>\n\n\n\n<p>For example, you can analyze each of your current products or services to determine their profit margin and alignment with your business strategy. You can then shed any that are underperforming and\/or non-strategic. Alternatively, you can study your operational processes to find efficiency improvements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1.Market share\u2014Under this strategy, your company seeks to capture a bigger share of your current market with the products it already has. For example, you can do so by increasing your marketing efforts or adjusting your prices.2.New markets\u2014Another strategy is to find new markets for&#8230;<\/p>\n","protected":false},"author":20,"featured_media":1500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/posts\/1499"}],"collection":[{"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/comments?post=1499"}],"version-history":[{"count":1,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/posts\/1499\/revisions"}],"predecessor-version":[{"id":1501,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/posts\/1499\/revisions\/1501"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/media\/1500"}],"wp:attachment":[{"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/media?parent=1499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/categories?post=1499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/strategistsworld.com\/your-perspectives\/index.php\/wp-json\/wp\/v2\/tags?post=1499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}