Every business faces the challenges to grow their business at one or other stage in their life- cycle. During this journey any of the following questions may arise:
- How to grow the business
- How to structure the business
- Funding for growth
- Building the right team
- Letting go of the reins
The options to grow any business can depend on multiple factors like nature of business, related regulations, demand & supply mechanism, funding & cash flows, manpower etc.
The growth is most likely to be achieved by any of the following methods:
- Organic growth- the business may have lot of potential and all you need is guidance in terms of financials planning and a good marketing plan
- Mergers & acquisition -one of the many ways explored by businesses is to merge with likeminded and aligned businesses to give them necessary boast. But it needs careful analysis and planning.
- Growing internationally -For offline businesses, it may be worth exploring to go online and increase the customer base therefore. It may also be promising to open offshore units or branches to save costs and earn economies of scale
- Diversification – exploring new markets can very well come from exploring new product line or services areas.
What are the points worth considering while managing growth?
- Finance- procuring rights funds are crucial and can be tricky, we can help you match the need for funding those additional space or machinery
- Premises- If you need to expand the location and your units, we can help you in property leasing or purchase
- Outsourcing- some of the functions like IT, payroll, finance & accounting can be outsourced to free the resources for growth
- Tax planning & re-structuring- some of the tax planning measures can free up valuable cash to fund internally the much-needed business growth
Connect with us today to if need help in growing and scaling your business and send us your enquiry.