How to Develop a Business Growth Strategy?

1. Market segmentation

2. Leveraging partnerships

3. Offer your business as a franchise or business opportunity. 

4. License your product.

5. Form an alliance.

6. Diversify.

7. Target other markets.

8. Win a government contract.

9. Merge with or acquire another business.

10. Expand globally.

11. Expand to the Internet.

12. Use checklists

Big businesses have massive facilities, complex supply chains and large equipment. Managing the day-to-day operations in these environments is too complex for one person. There are too many variables to track.

 

Thanks for invitation.!

According to me Business growth strategy is depended on1) Theme of Business2) Team of Business

3) Passion toward loss and profits4) Customers and employee satisfaction5) Faith & devotion.

Create acceptability for the Market needs--First give your own contribution to the development of the Growth oriented market  in return it will provide means for your existence and growth and demand you for a improved growth--the market will identify you a service provider and recognize your efforts.

Agree with the detailed answers provided by you.

First should analyse your focused Market through SWOT analysis, secondly go through evaluate your business through4p's,  and  then Create acceptability for the Market needs--First give your own contribution to the development of the Growth oriented market  in return it will provide means for your existence and growth and demand you for a improved growth--the market will identify you a service provider and recognize your efforts.

Market Penetration. The least risky growth strategy for any business is to simply sell more of its current product to its current customers.

Market Development.

Product Development. 

New Products for New Customers. Sometimes, market conditions dictate that you must create new products for new customers

 

All colleagues have given excellent answers.

Sell more to existing customers. 

 Attract new customers through increased investment in promotion and advertising.

Expand existing sales channels, or create new ones.

Enter new markets.

Introducing new products or services to your marketplace .

Introduce new technology to your business.

Create partnerships with other businesses.

Successfully tendering for contracts can stimulate the growth.

Networking can introduce you to potential customers, business partners, investors… 

 

 

1. SWOT assessment.

2. New product innovation.

3. New pricing system.

4. New marketing system.

5. Customer demand assessment.

6. Customer friendly services.

7. Government rules and regulations.

There are two types of growth strategies . organic( responsive to market needs improving penetration and outreach). And inorganic ( proactive action plan to generate competitive advantages and market demand). Organic growth is low risk, good platform for developing customer base, but inorganic strategy is good for sustenance and although the risks are high while reaching the threshold of competitive advantage, they get inverted to a low risk platform on crossing the threshold.

You are asked a very good Q. and answered this Q. completely 

Thanks 

What can I say more then the above.....You only can develop business growth strategy if you closely  keep in touch with you market, know what your competition is doing, know the way to innovate, but also once in a while take a helicopter view on your current business strategy