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5 Business Growth Strategies and Tips for Scaling Your Company in 2020

Posted: January 23, 2020 at 2:40 pm / by / comments (0)

Successfully managing a business means that you must commit to it full time and frequently make strategic decisions. There is plenty you can do to plan and build an independent company, but bad things that hinder your success can happen.

To grow your business effectively, you need to carefully plan out your strategies and create measurable goals for yourself and the members of your team.

Here are some growth strategies and tips to help you get started.

Collaborate with a Digital Innovation Agency

One of the easiest ways to scale your business is to hire an expert. You need someone who can do some of the heavy lifting for you. A digital innovation agency can help you build an online brand identity and streamline your workflow.

Having a strong online platform is essential if you want to succeed in any of today’s markets. An agency likeIcreon can helpyou digitize processes, consolidate technology, develop new software, and much more.

Having an outside individual examine the structure of your business is invaluable. Have a search around for individuals and companies that are designed to help you out.

Market Expansion

Nobody wants to purchase a product or seek out a service from a brand that doesn’t make changes to their product line or marketing tactics.

Consumers need change due to overstimulation by the advertising industry. One of the best ways to win over a chunk of whatever market your business operates in is to introduce new products.

The only way you’re going to expand your reach is to increase your market share. One way to do this is to lower your prices.


SEO (Search Engine Optimization) is a way for your business to rank higher in search engines. Optimizing your website for search engines requires taking advantage of various tools and techniques like keywords, meta titles/descriptions, image tags, and more.

Rarely will people venture to the second page of Google. That’s why you should do everything that you can to rank high and potentially end up on the first page. Doing so will drive a lot of traffic your way.

Using programs like Google AdWords, you can research popular keywords in your market. Use these keywords in the content on your website to rank higher in search engines. You will begin to see rapid growth from the increased ranking.

Company Acquisition

If your business has the resources to acquire another company, you’ll be able to expand your operations and diversify your products or services.

This strategy is excellent for small companies that want to introduce new products and venture into untested markets.

If you use this strategy, be wary of the risks. Entering a new market is tricky, especially if you don’t have any experience in the industry you are trying to join.

Backward Growth

Another exciting way to grow your business is to buy your primary supplier or one of your suppliers, so you have more control over your supply chain. This can be a substantial investment, but it’s worth it if you have the funds.

Employing this strategy would allow you to develop new products at a faster price and even control costs.

Businesses sometimes have to outsource a lot of work from other companies who specialize in certain practices. Doing this is expensive and unreliable.

Buying out your preferred subcontractors gives you more control over your business and ensures that all of your needs are met.

In the long run, you won’t face as many risks since you’re mainly relying on yourself and members of your team.

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