You didn’t start your own business to stay in one place. So the question isn’t, “should I grow my business?”—it’s, “how will I do it?” One way to start is to borrow from the popular business model developed by the Boston Consulting Group (BCG). Here are four different approaches to growing your small business.
The BCG growth model is based on an overall analysis of the products and services you provide. It recommends that businesses concentrate on the products with the biggest potential.
Here are four ways you can approach your growth strategy:
Take a look at the products/services you offer and select a growth strategy that capitalizes on the ones with the biggest potential.