Five New Ideas on How to Consolidate and Expand Your Business

Most people agree that current times will not be easy for the majority of smaller to medium sized businesses- especially in the US, and the Eurozone. However, there are ways to consolidate your existing client base, whilst expanding a new customer base. What are the five ways you can increase your business in a recession?

1. An 'Open House'

An 'open house' can introduce your business to the general public locally, more than an online presence can. By welcoming the general public into your premises, you can offer free drinks and some snacks whilst they get to know you, and the products you offer.

2. An online Presence

Aside from a website, you may need a twitter or even a company facebook account. The key is to make both accounts informative and interesting- with perhaps a few articles and topical content which attracts people to the products or services you offer. Try to manage the time you spend online on promotion, as you still need an offline marketing strategy.

3. Using New Technology

A flat screen television showing what you offer in your store/office window is great publicity- particularly if you have a presence on a high street. This attracts window shoppers, and can visually entice customers into enquiring about your services or browsing through the goods you sell.

4. Analyze your Business Hours

Spend a few hours checking when you are the least and most busy. Try and identify the reasons, and check out how other similar businesses have opening hours. Are you open on Saturday afternoon?- a time when many people may want to buy from you or use your services. Create your business hours around the mid to peak time were you could attract clients, rather than around your own time demands.

5. Share Your Business Space

This may sound ludicrous, but by sharing your business space with another type of business linked to the products or services you offer - could attract more indirect business. a strategy that has always worked for supermarkets. One example could be a café offering space for an art exhibition, or a struggling music store offering a chance for customers to record, and sell their own music.

Many experts predict the next few years are still going to be tough for businesses, unless they start innovating more. Innovation means keeping the traditional core business you have, whilst expanding on new ideas on how to attract future clients

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