From the Executive Director

Juan A. Navejar Jr.

Every business owner dreams of expanding their business in some form or fashion. I have admit I have a quote from the movie Steal Magnolia where Truvy (Dolly Parton) is blindfolded by her husband and arrive at her second location and says to him “I can’t believe it, I’m a chain.”
Business owners at one point or another have to decide whether or not they want to grow their business. While there are some very obvious benefits to business growth, there are some disadvantages as well. It is important that you consider both, as they relate to your particular situation, before making any decisions.
Some of the common advantages of course in increased revenue and/or profits. Another is more equity accumulation with the ability to hire more individuals. Some of its side effects include a financial risk as overhead increases and more time spent on managing and working at the business


With everything we do each day it’s all about choices we make. The risk some of our older business owners face is the lack of computer knowledge and a fear of the internet. Let me say, the internet is the fastest and easiest way to grow your business. By using the internet you can make your product or service available to just about anyone, anywhere, at any time. One of the benefits of using the internet is that it is less expensive and not as risky as expanding your business in the real world.  You won't need the people power you would need to grow your business locally. This means less management on your end, not to mention the fact you won't have to spend money on employee wages or new office space. Using the internet will also allow you to expand into far away markets quickly and efficiently, with little red tape.

If you are still uncertain the internet is for you think about doing it the old fashion way by hiring additional personnel. Hiring more people means increased productivity, which means you can take on more clients. Another way to expand your business via people power is to hire sales reps and consultants to add your products to their inventory. This is a great way to increase your sales and profits! But do be aware that adding people to your business means having the time and money to properly train them. Before you add people to your business, make sure you have all the resources to support them in a manner that will spell success for them and in the long run, your company. Taking on people requires a good strategy on your side.

Another suggestion is changing your product or services a bit. This is a great way to grow a business, as you already have your customer base in place. When choosing products and services, choose those that you think your current customers will want and benefit from. In most cases, this means products and services that are complimentary to your current line. If you are not sure if the products and services you have in mind will appeal to your customers, feel free to ask them.

 One final idea takes more action and more time. Merging your business with another business, as well as acquiring a similar business and its customer base, is another way to grow your business. When two businesses merge there are some obvious advantages. In most cases, they benefit from each other’s strengths and bolster each other’s weaknesses. Also, owning a larger part of the marketplace, in most cases, means more opportunity for growth down the road. Similarly, acquiring a competitor or a business that sells complimentary products or services allows you to expand your current line.

Some of these ideas are not an overnight creation and will take a bit of time to put into place. With some little initiative and some hard work you can expand and become your own “Chain.”