Here’s How to Start Expanding Your Business Into Different Industries

Julie Starr • Jun 28, 2022

Like most business owners, you want your business to grow. You may have started in one industry, but eventually, you will want to expand into others. This can be a daunting task, but it can be a successful endeavor with the right planning and execution. In this blog post, we will discuss how to start expanding your business into different industries. We will cover the basics of market research and give you some tips on how to get started!

Market Research:

The first step in expanding your business into different industries is doing market research. This will help you determine which industries are growing and which are declining. It will also give you an idea of the competition in each sector. There are several ways to do market research, but one of the most effective is to talk to your customers. Ask them what they want to see from your business and what other products or services they would be interested in. You can also look at industry reports , read trade publications, and attend trade shows. Once you have done your market research, it’s time to start planning your expansion. Here are some tips to get you started:

Develop a Plan:

The next step is to develop a plan for your expansion. This should include a timeline, budget, and objectives. You need to set realistic goals for your development and ensure the resources in place to achieve them. One of the most critical aspects of your plan is your marketing strategy. This will be key to getting new customers and ensuring they stay with you long-term. Make sure you take the time to develop a well-rounded marketing strategy that includes online and offline tactics. Also, don’t forget to have a plan for customer retention. It’s essential to keep your existing customers happy while expanding your business.

Find suitable partners

If you want to expand your business into new industries, finding the right partners is crucial. For example, if you’re trying to start a tax business , look for companies that complement your existing business and have a good industry reputation. It’s also essential to make sure you have a good relationship with your partners. This will help ensure smooth sailing when you start expanding your business together. Additionally, good partners can provide you with valuable insights into their industry. This can help you avoid pitfalls and make the most of your expansion.

Execute Your Plan:

Once you have developed a plan and found the right partners, it’s time to start executing your expansion. This is where the rubber meets the road, and you must put all your planning into action. Make sure you stay focused and on track, and don’t be afraid to ask for help when you need it. There will be challenges along the way, but if you keep your eye on the prize, you can successfully expand your business into new industries.

Now that you know how to expand your business into different industries, it’s time to get out there and start! Remember to do market research, develop a plan, find the right partners, and execute your plan. With these tips, you will be well on your way to success.

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Simple Steps To Make Your Office Space More Eco-Friendly

By Julie Starr • 07 Oct, 2024

Becoming more eco-friendly and running a greener business is a responsibility that business owners really need to think more about. The good news is that if you spend a lot of time in your office, there are plenty of ways to make it more eco-friendly without having to overhaul everything and start again (which isn’t just disruptive, but expensive too). So, if you’re ready to get started, here are some simple steps to make your office space more eco-friendly; read on to find out more. Use Energy-Efficient Lighting This idea is a simple one that you can do no matter what else might be on your list of tasks - it’s quick, easy, and really makes a difference; change your light bulbs to something more energy efficient. If you’re still using traditional fluorescent bulbs, it’s time to upgrade to LED which doesn’t just last longer, but also uses a lot less energy. They’re easy to install and they’ll help you cut down on your office’s energy usage almost instantly. If possible, you should make the most of natural light too, so think about rearranging your workspace to let in more sunlight, which saves energy and can boost your mood - it’s a win-win that you can do right away. Prioritize Air Quality The air you breathe matters, and keeping it clean can do wonders for your health and the planet. One way to improve air quality is by adding plants to your workspace because plants are natural air purifiers, and as a bonus, they’ll make your office feel more inviting. Another great idea is to make sure your office’s HVAC system is working efficiently, and having air duct cleaning done by professionals is an easy step you can take to improve air quality and ensure your heating and cooling systems aren’t wasting energy. Clean air ducts mean cleaner air, less strain on your system, and even lower energy bills, so it’s a simple but really effective thing to do. Switch To Reusable Products If your office is still stocking up on single-use plastic items, it’s time for a change - swap your disposable cups, utensils, and plates for reusable ones and you’ll be surprised at how much waste to eliminate. And what about encouraging people to bring their own mugs and water bottles to work? Give them tea, coffee, and water to refill everything with, and you’ll be doing your bit to help the planet and have less waste to deal with as well. And don’t stop with these things either - there are loads of reusable products that could be useful in your office. You could have refillable pens and ink cartridges for your printer, for example. Go Paperless Speaking of your printer, is that an office machine you actually need? If you were to go digital and aim for a paperless office , you might be able to do away with the printer, which means less money spent on ink and paper, and less energy used altogether. You should be able to set up a system where documents can be shared online and stored electronically, and there are plenty of tools around to help you do exactly that (and much more). If you don’t need to print something and you don’t need a physical copy of a document, don’t make one - just use the digital version instead and you’ll be a lot more eco-friendly.

3 Most Unsustainable Industries & What They're Doing To Be More Eco-Conscious

By Julie Starr • 04 Oct, 2024

Sustainability often gets pushed on the common person. Joe Public is told to be more sustainable with their daily habits as the government pushes for more eco-friendly measures. This is all well and good - but does it really matter when 71% of greenhouse gas emissions come from just 100 companies around the world? Small business owners are desperate to prove their sustainability, but what are bigger companies in some of the most polluting industries doing to help? We’ve taken three of the least sustainable sectors on the planet and explored the unique ways they’re trying to cut down on emissions and be more eco-friendly. Mining Any industry revolving around drilling underground will not be very environmentally friendly! Mining causes a lot of pollution, but its unsustainability often comes from the way it damages local environments and ecosystems. So, what is this industry doing to change things? It’s largely focusing on more responsible mining practices to reduce waste and mitigate the impact on local environments. This is done through mining dust suppression systems to prevent airborne pollution, reforesting mining sites when they’re no longer in use, and recycling as many materials as possible. Is it perfect? No, but it’s a step in the right direction. Fossil Fuels Shock horror; the fossil fuels industry is the most damaging to our environment. Finding ways to change the scope of this sector is the key to ensuring a better future for all. Some companies in this industry are trying to do this through carbon capture and storage. This is a technique where CO2 emissions are captured before they’re released into the atmosphere and stored underground. Realistically, the main thing fossil fuel companies should be doing is pushing for more renewable energy sources. Many are doing this - though reports suggest they’re not investing as much as they should. If fossil fuel companies dumped more money into developing biofuels and other renewable sources, pollution from this industry would drop dramatically. Fashion The most unbelievable stat to take from this post is that the fashion industry is responsible for 10% of our global carbon footprint . That’s remarkable (and worrying), considering how most of us don’t view it as a “dangerous” industry. Fast fashion is the main problem; poorly-made goods are pumped out at a rapid rate, and consumers constantly buy new things. Fashion companies are trying their best to resolve this. Most big brands will now have sustainable lines using recyclable materials. Consumers also hold the key to solving this problem: stop buying new clothes all the time and wear yours for longer. Or buy pre-owned clothes to slow down the fashion production line. Companies can still do more as well: they are trying to adopt more eco-friendly production processes that use less water and energy. The moral of this post is that everyone can do their bit to fight for a more sustainable future. Keep this in mind for your small business . It doesn’t matter what industry you’re in; there will always be ways to promote eco-friendly practices.