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BusinessValuationServices-Venturecare|known yourcompanyworth www.venture-care.com Ask@venture-care.com 020-65363633
1.Getyourbusinessspreadintheexistingmarket Gettingnewcustomersisnotbad.Butbeerwillbetosellmoretotheexistingcustomers;retaintheexistingcustomers.Acquisitionofnewcustomerswillinvolvehigherpromotionout-go.Whereas,sellingtoexistingcustomerswillbecost-effective.Pricingisanotheraspectwhichwillhelpyourbusinessforsaleinpenetratingtheexistingmarket.Rememberthatalwayschargingcompetitivepricemaynothelp.Sometimesyouneedtoreducetheweight/quantityoftheproduct(indirectpricing)orofferfreegifts.Youmayevenchangethepackaging. 2.Youmayseekreferrals. Duringoraftereveryjoborsale,askyoursatisfiedcustomersifheknowsanyoneelsewhowouldbeinterestedinyourproductsorservices.However,thisispossibleonlyifyourdeliverablecandelightthecustomers. 3.Innovateormodifyyourproduct Everyproductorservicehassomelife.Itisalwayssuggestibletogoforproductinnovationormodification.Thiswillhelpinaddingnewcustomersalso.However,research&developmentwingshouldbestrongenoughtoperformthis.Justthinkoftransformationofofflinebusinessintoonlinebusiness. 4.Extendyourmarketreach. Youmaystartlocallybutincreasethemarketreach.Manybusinesseshavegonethiswayandgrewtremendously.Therearemanywaystogetit-openstoresinnewlocations,govirtual,acquireothercompanies,makee-ups,usesocialmedia,usewebsiteetc. 5.Participateintradeshowsandarrangeseminars Tradeshowscanbeagreatwaytogrowtoo.Becausetradeshowsdrawpeoplewhoarealreadyinterestedinthetypeofproductorserviceyouoffer.Theycanpowerfullyimproveyourboomline. 6.Winthenichemarket www.venture-care.comAsk@venture-care.com020-65363633
Bigmarketcustomerstrytofollowthecustomersofnichemarket.Onceyourproductorservicehasgotholdinnichemarket,itwillbeeasytoextendthepresentbigmarket.Thinkofbrandedapparels,useofhomeappliances,mobilehandsetsandmanymore.Bigmarketcustomerstrytofollowthecustomersofnichemarket.Onceyourproductorservicehasgotholdinnichemarket,itwillbeeasytoextendthepresentbigmarket.Thinkofbrandedapparels,useofhomeappliances,mobilehandsetsandmanymore. 7.Reducethecosts. Don’tforgetthatreducingcostdirectlyhelpsinincreasingboomlineandthusvaluationofbusiness.Itisnotnecessarytocutcostsinalltheareas.Fewareaswhereitcanbedoneare-reducewastage,electricitycostadmincostsandotherindirectcosts. 8.Diversifyyourproductsorservices. Diversificationinproductsandservicesisinterestingwaytoempowergrowth.Packagetheproducts.Simplythinkofaburgerorpizzaisavailablewithsauceandchilliflakesandcolddrinks.Or,arestaurantservesmealwithpickleand‘papad’and‘chutney’. 9.Franchising. Franchisingisgoodwaytogrowyourbusiness.Itmaynotbepossibletodirectlyreachthecustomerstocreatebrandofyourproductorservicesandgoforfranchisingmodel. Toconclude,thereisnoopentoletyourbusinessforsale.Theabovewaysarenotexhaustivebuttherearewayspossibletoachievethatdependinguponthenatureofproduct/servicesandbusinessmodel. www.venture-care.comAsk@venture-care.com020-65363633