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

Julie Starr • June 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.

By Julie Starr July 14, 2025
What happens when students stop waiting for adults to fix things and start conducting their own energy audits? Money gets saved. The lights get switched off. Data gets analyzed. And a quiet revolution in sustainability begins—inside schools that once overlooked their own inefficiencies. Across the globe, student-led energy audits are proving that change doesn't always need to come from a policy shift or a major capital budget. Sometimes, it begins with a clipboard, a spreadsheet, and a group of curious minds asking: Why are the hallway lights on at noon when sunlight floods the building? The Energy Detectives These audits aren’t science fair projects. They’re rigorous investigations, often done in collaboration with facilities staff, local environmental nonprofits, or even engineering mentors. Students go from classroom to classroom measuring electricity usage, checking for phantom loads , and identifying where heat is escaping in winter or air conditioning is leaking in summer. One high school in Ontario saved over $12,000 a year after its Grade 11 physics students ran an energy audit and suggested simple changes—LED upgrades, motion sensors in bathrooms, and smarter heating schedules. They didn’t just propose ideas. They pitched them with spreadsheets, thermal images, and payback timelines. It worked. Learning That Pays Off—Literally Unlike textbook learning, these audits blend real-world math, environmental science, economics, and persuasive communication. Students aren’t just learning about sustainability. They’re doing it. And the savings add up. From dimming overlit hallways to reprogramming HVAC systems that run all weekend for empty buildings, students are surfacing blind spots that administrators often overlook. In some districts, their findings are influencing energy policy. Elsewhere, the audits have inspired school boards to hire sustainability coordinators—often alumni of the student programs themselves. There’s something poetic about a school funding new books or laptops from money saved by students who found out the vending machines didn’t need to be plugged in 24/7. Why This Matters More Than Ever With education budgets tightening and utility costs rising, every dollar saved is a dollar that can go back into classrooms. And here’s where it gets interesting from a family finance perspective, too. If you’re a parent setting aside money for post-secondary savings, every bit of school efficiency helps. Fewer energy costs might mean more programming, better STEM facilities, or even bursaries. That raises a broader point: when families save for their children’s future, they often look into RESPs (Registered Education Savings Plans). And many wonder—is a RESP deduction available on my taxes? While contributions themselves aren’t deductible, the gains grow tax-free, and students often pay little to no tax when they withdraw the funds during school. A Movement Worth Replicating These audits aren’t just an exercise in environmentalism. They’re leadership labs. Students learn how to spot inefficiencies, speak up in board meetings, and make a business case for change. They don’t just flip switches—they shift mindsets. And they carry these habits into adulthood. The result? A generation growing up not only with climate anxiety, but also with tools to tackle it.
By Julie Starr June 20, 2025
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