Business Education

Creative Ways Entrepreneurs can Expand their Small Businesses

Starting a small business is a big undertaking, but it can be incredibly rewarding. However, growing a small business can be just as challenging. There are many factors to consider, such as marketing, financing, and staffing. But with a little creativity and ingenuity, entrepreneurs can expand their businesses and achieve their goals.

Creative Ways Entrepreneurs Can Expand Their Small Businesses

One neat trick (that isn’t necessarily easy to pull off) is to expand in order to provide not only additional revenue streams but stability, too. This helps to meet basic financial needs when certain products and/or services fail to perform to their normal or even desired standards.

Fortunately, it’s possible to expand a small operation without incurring a lot of time and expense. You’ll find some of these strategies don’t require work or capital whatsoever. In fact, a few are quite simple and straightforward. So let’s take a look at a few creative ways entrepreneurs can expand their small businesses:

Partner with other businesses. One way to expand your business is to partner with other businesses that complement your own. For example, if you own a restaurant, you could partner with a local bakery to offer delivery or catering services. Or, if you own a retail store, you could partner with a local marketing firm to help you with your advertising and promotions.
Expand into new markets. Another way to grow your business is to expand into new markets. This could mean opening up new locations, selling your products online, or targeting new demographics. For instance, if you own a clothing store, you could expand into new markets by opening up a location in a different city or by selling your products online.
Develop new products or services. Another way to expand your business is to develop new products or services. This could mean adding new items to your product line, offering new services, or creating a new line of business altogether. Here’s one example to follow, if you own a landscaping company, you could develop a new line of gardening products or offer lawn care services.
Offer franchising opportunities. If you have a successful business model, you can consider franchising your business to expand your reach. This involves licensing your business model to other entrepreneurs who can operate their own franchises. Franchising can help you expand your brand and increase revenue without incurring the costs and risks associated with opening new locations.
Create a loyalty program. A loyalty program can help you retain customers and encourage repeat business. You can create a loyalty program that rewards customers for their purchases or referrals. This can help you build a loyal customer base and increase sales.
Attend industry events. One way to stay ahead of the curve and learn about new trends is to attend industry events. This is a great way to network with other entrepreneurs, learn about new products and services, and get inspired. So, let’s say you own a restaurant. You could attend a food and beverage trade show to learn about new trends in the industry.
Get involved in your community. Another way to grow your business is to get involved in your community. This could mean sponsoring local events, volunteering your time, or donating to local charities. Getting involved in your community is a great way to build goodwill and support for your business.

These are just a few creative ways entrepreneurs can expand their small businesses. By being creative and thinking outside the box, entrepreneurs can achieve their goals and grow their businesses into successful enterprises.

Obviously, this isn’t a complete or exhaustive list of ways entrepreneurs can expand their small businesses. If you have any other bits of advice or suggestions, please take a moment to comment and share your thoughts and experiences so others can benefit from your perspective!

Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.

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Business Owners: Want to Win More Bids? Ditch the Lowest Price Strategy Now!

May 15, 2025 No Comments

Tired of losing bids despite offering the lowest price? It’s time to rethink your strategy. Savvy business owners are winning more contracts by focusing on value, not just cost, and this gives them a key advantage in today’s super-competitive market. Below, we’ll look into why ditching the race to the bottom could be your key to securing more deals and boosting profits. Winning Contract Bids Without the Lowest Price: Smart Strategies for Business Owners For many business owners, securing a contract bid is a critical step toward growth and stability. But when competitors undercut your pricing, it can feel like an uphill battle. Fortunately, winning a bid isn’t just about having the lowest price—it’s about demonstrating unmatched value, reliability, and expertise. Here are the smartest strategies business owners can use to beat out competitors—even when they can’t offer the lowest price. 1. Highlight Your Unique Value Proposition Instead of competing on price, compete on value. What makes your business unique? Whether it’s exceptional service, proprietary methods, superior materials, or long-term cost savings, make sure your bid clearly communicates why you’re the best choice. 2. Focus on Quality and Longevity Some clients prefer reliability over rock-bottom pricing. If your product or service lasts longer, requires less maintenance, or improves efficiency, quantify that value. For example, a higher upfront investment in your service may reduce operational costs down the line—making your bid the smarter financial choice in the long run. 3. Showcase a Strong Track Record Clients want assurance that their investment won’t go to waste. Use testimonials, case studies, and historical data to prove that your company delivers results. Highlight successful projects, positive customer feedback, and retention rates that demonstrate your reliability and excellence. 4. Offer Customization and Flexibility Many companies struggle with one-size-fits-all solutions. If your competitors are bidding with generic offerings, showcase how your business tailors services to client needs. Providing custom options, phased implementations, or adaptable contracts can make you the preferred choice. 5. Strengthen Your Relationship with Decision-Makers Building strong relationships can significantly impact contract decisions. Engage with prospective clients before the bid process, understand their pain points, and position yourself as a trusted partner—not just a vendor. Personal connections and a reputation for integrity can make your proposal more appealing. 6. Provide Exceptional Customer Service A client’s experience matters just as much as the service itself. If you’ve built a reputation for responsive, personalized customer care, highlight it in your bid. Show how your customer-first approach helps clients avoid headaches down the road. 7. Offer Value-Added Incentives You may not be the cheapest option, but adding extras can sweeten the deal. Consider offering extended warranties, priority support, free training, or additional consulting as part of your bid package. Small enhancements can make a significant impact in the decision-making process. 8. Be Transparent About ROI Clients want to know why they should pay more. Break down the long-term return on investment (ROI) in clear numbers, showing that your offering delivers better results, fewer risks, and overall savings despite a higher initial cost. 9. Strengthen Your Proposal Presentation A well-crafted, professional bid stands out. Avoid generic templates—customize your proposal to address the client’s specific pain points. Use compelling visuals, clear data, and a persuasive narrative to make your case stronger than price alone. 10. Optimize Your Reputation in the Industry Your credibility matters. Industry awards, certifications, expert endorsements, and strong reviews enhance your perceived value. If your company has a respected name in the market, leverage it in your bid to strengthen your position. Winning Without Undercutting Prices Your ability to win bids without being the cheapest depends on how well you communicate your business’s strengths and advantages. Price may be a factor, but it’s not the only factor. With a strategic approach that highlights reliability, quality, and added value, your business can secure contracts while maintaining profitable pricing. Want to Accomplish More? Do you want your company to grow faster and earn more while spending more time with your family doing everything you started your business to do? We can make that dream a reality. Give us 30 minutes, and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 480-636-1720, or, if you prefer,

How to Manage Your Teleworking Staff

April 9, 2020 No Comments

Managing a staff remotely presents a number of challenges, some of which are completely unexpected. When a business first goes to a telecommuting or teleworking structure, it naturally undergoes some growing pains to adjust to the new dynamic. Although it is ostensibly more beneficial, cutting down on some expenses, and providing more convenience to staff who no longer have to commute, there are still some issues which can arise. So, it’s best to know what to expect. The Upsides of Telecommuting for Small Businesses There are a number of advantages to remote work situations. It gives team members more flexibility with their schedules. Also, it cuts down, if not nearly eliminates, office politics. Additionally, another benefit is that it can reduce operating costs, having to rely less on a dedicated, physical location. Particularly for small businesses, telecommuting seems an effective strategy for maximizing a workforce while still keeping costs low. You don’t need to pay for a centralized office space or deal with a drive to work, but you do have to contend with YouTube, Facebook and myriad other online distractions. —American Express But, it also means having to wrangle with coordination efforts, relying on different forms of communication, along with various other things to work out. With just a bit of tweaking here and there, it’s possible to make it work and even to reach a point where pretty much everything flows seamlessly. Ways to Manage Your Teleworking Staff Of course getting from Point A to Point B requires a combination of ingenuity, cooperation, and some out of the box thinking. To effectively manage a remote staff, you’ll need to do the following: Clarify roles. Each team member must clearly understand his or her role within the organization to eliminate duplication of effort, gaps in productivity, and more troublesome issues. Every person should have a defined, central role, as well as alternative responsibilities, just in case there is a need. Set expectations. In addition to defining everyone’s role, you’ll also need to clearly delineate your expectations. Otherwise, people won’t know exactly what you want out of them, and that’s a recipe for disaster. Develop procedures. It’s pretty straightforward to set up and explain and demonstrate procedures in a face-to-face environment, but presents quite a challenge with remote staff. This is where most of the initial communication will be necessary, in order to coordinate how things should be done. Set Regularly Scheduled Conference Calls. Regular communication is key with your staff in order to develop relationships and high trust cultures with accountability. Have a set time and day with a set agenda on key performance metrics and results, project updates, review current challenges and opportunities and collaborate openly so that there is a sense of community. Use a video conference application like ZOOM or GoToMeeting.com or other for more effective communication. Understand security issues. With remote work comes the risk of work-product being compromised. You need to learn about and address any potential issues by being proactive as possible. Reach out for help when needed. Lastly, if things just don’t seem to work, you should seek help with the right people. you might need to consult or hire a technical professional in order to get everything you need in order for the system to be fully functional. What other suggestions do you have? Please, share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Why Hosting Thanksgiving Dinner Teaches Us a Great Business Lesson

December 11, 2017 No Comments

Yes; you read the title correctly, hosting Thanksgiving dinner can teach us a very good business lesson. How; you might ask? Well, think about it this way. When Thanksgiving rolls around and you’re hosting dinner, what’s one of the first concerns which goes off in your head? Of course, being anxious about getting the meal cooked right is one. But, equal to that is how much of a mess your home is! You begin to panic. It’s a total mess. Things are everywhere. The floor is dirty. And, you notice just how cluttered it is. Time to do some serious cleaning and organizing. Why Hosting Thanksgiving Dinner Teaches Us a Great Business Lesson It’s a known fact that where you work affects just how you work. For example, if you worked in a chaotic environment, like an elementary classroom, you’d have little choice but to stay well-organized. However, too many business professionals let their workplace become disorganized. And, it causes needless wasting of time. So you’ve got a messy office you’d like to tame. We’ve all been there, and many of us still are there. You may think that the people behind your favorite productivity and organization blogs are immune to such things like clutter and disorganization, but more often than not we’re brimming with organization tips, tricks, and solutions because of our own struggles with disorganization. —Lifehacker.com Now, you might disagree. There are people who believe a messy workplace doesn’t really matter at all. But, it actually does. Organization is a key factor. It’s particularly integral to success. Without organization, there’s too many loose ends. Those can easily become distractions. Or worse, cause serious problems. How to Do Office Organization Right When you ignore disorganization, it inevitably comes back to bite you. It’s a quasi-blind spot. A well-organized workplace has big advantages. First and foremost, it gives you a genuine feeling of control and competence. That directly translates into improved and increased productivity. Second, because it’s organized, you’re more free of pointless or counterproductive distractions. Third, it allows you to put your focus where it bests serves your interests. So, let’s look at how to do office organization right: Purge with purpose. The first step is to get rid of as much junk and useless stuff as possible. Purge everything that’s unnecessary or unusable. Take this seriously and you’ll feel an instant sense of gratification. You’ll also be amazed how much space you free up. Designate catch-it spaces. There are all kinds of things that come into a workspace, be it an office, a workshop, or retail store. So, designate where that stuff goes. For instance, a place for things like an umbrella, bags or briefcases. As well as a place for incoming documents and other things. Basically, live the phrase, “A place for everything and everything in its place.” Keep your workspace clutter free. The single best way to stay organized is to keep clutter away. Don’t ignore junk, things, and stuff that come into your workspace or you’ll fall right back into the same cycle. Keep it free of clutter and you’ll develop a good habit. Prioritize and always act accordingly. Another good habit to develop is prioritizing. It’s a great way to know what’s next and what can wait. A shotgun approach is a sure-fire way to disorganization and confusion. Plus, you’re unlikely to get very much done. How do you deal with junk and get organized? Have you found you’re more productive when your office is neatly organized? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.