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Tag: business strategy

Directions in business strategy to maximize business growth

Directions in business strategy to maximize business growth

Business
Business growth rarely happens by accident or by osmosis. A growing business is usually the consequence of a business strategy successfully deployed in order to achieve that specific outcome. The highest rates of business growth can be achieved by combining four separate strategic directions into a well designed, consolidated, and highly focused effort to: acquire more new customers/clients, sell more products/services to the existing customer/client base, improve profit margins by raising prices and/or reducing the costs of supplying the products/services, and increase the existing retention rates of current customers/clients. Acquiring More New Customers/Clients The most commonly used strategy to promote business growth is to adopt a business strategy directed ...