Let’s face it: Developing a business growth strategy is never easy, and statistics show that more than 70 percent of strategies fail due to several factors, including the lack of clear, realistic and measureable objectives; not understanding the reality of the marketplace; a lack of management skills; the willingness to change; an inability to execute; and the lack of accountability. In other words, most businesses start small – and most businesses stay there.
Don’t be a statistic.
At Vitaliz, we recognize that staying small doesn’t necessarily guarantee your business’s survival, and that business development is the most important required strategy to sustain long-term value to customers, markets and key relationships.
We have a proven track record of delivering results, and have varied experience in all verticals of business. We have expertise in the needs of business-to-business (or B2B) organizations, as well as business-to-consumer clients, and we can decipher and develop customized growth strategies that are proven to deliver results.
Our love of talking about growth and development is second only to our love of watching the businesses we work with grow and develop.
Areas of investigation
- Market penetration: We can help you sell more of product or services to your current customer base by increasing quality, productivity and marketing.
- Market development: We can assist you in selling your current product or services to new markets or sales areas.
- Increase profit margins: Is there a gap between what you’re charging and what people are willing to pay? Or can you reduce your costs while holding sales prices steady or generate more revenue? We have the tools to find out.
- Product or services development: Have you been tossing around the idea of expanding your current product line or service menu? Our team can help you develop new products to sell to new and existing customers.
- Alternative channels: It might be time for your business to consider pursuing customers in a different way than what you’ve traditionally used. We can put together an innovative and exciting plan to refresh your product and services, and gain entry into possibly untouched markets.
- Diversification: The market conditions dictate that businesses must create new products for new markets, and switch internal focus. Our team can assist in this area.
- Purchase a competitive or complementary business: Caution is the watchword with this complex strategy, but the payoff can be high. We can tell you how.
Benefits of growing your business
- Improve access to financing: As your business assets grow, you may be in a better position to borrow against them, leveraging your success to access funds you need to continue to grow financially. While lenders won’t ignore the risks involved, a growing business may open doors to financing.
- Decrease costs: Your growing business can achieve greater economies of scale by spreading fixed administrative costs over more business activities. You may also find yourself in a better position to negotiate lower prices from suppliers, based on higher purchase volumes.
- Attract good employees: Highly skilled and motivated employees – who want to grow with a company – aren’t impossible to find. These go-getters are attracted to fast-paced, growing businesses. As your company gains a better profile, more of these employees will come to you looking for a stimulating and challenging work environment.
- Increase personal wealth and increase employee compensation: A prosperous business will have a higher value to potential buyers and will generate more cash flow, which, in the long run, may mean higher dividends paid to shareholders or higher salaries for you and employees.