ENTREPRENEURSHIP / DEC. 29, 2014
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How to Develop a Business Development Growth Strategy in 2015

When 2015 comes to an end, will your business be singing "We’re in the Money" or will your enterprise be singing the blues? Well, it all depends on what business development growth strategy your company employs in the New Year.

Ostensibly, next year will be a stellar year for the United States economy - WalletHub, for instance, projects a three percent growth in gross domestic product - but others say the market should exercise "caution" because much of the anticipated growth could depend on the Federal Reserve’s decision to either hike interest rates or delay it once again

In order for a business to meet its objectives and reach new heights, they have to think of ways to grow and evolve. Expansion plans should be a part of any corporation’s business model because without them they risk being left behind when it comes to competing with their rivals and other industry leaders.

Next year, a lot of trends will be embraced while others will be shafted. One of the biggest incorporations should be in relation to technology as this can incite enhanced efficiency and boost productivity levels. Of course, every business must spur changes and introduce updates based on their needs.

To become successful in the New Year, each entrepreneur must ensure they are applying a tremendous amount of work ethic, dedication, innovation and adaptation to the workforce. 

Here are six ways to develop a business development growth strategy in 2015: 

1.Social Media 

Older business owners may not be as enthusiastic about social media, but it has become an integral role in the private sector. It can engage with a company’s audience and perhaps attract new customers. Facebook, Twitter, Google+, Instagram and other social networks should be integrated into a business model in order to keep up with competitors and maybe even get ahead of other businesses in your field.

If a proprietor is too busy then they should hire a social media firm to institute a social media marketing strategy to give revenues a shot in the arm and showcase the brand as being on top of industry trends.

2. Mobile 

The trend in recent years in the office has been BYOD (bring your own device). This is where employees use their owns smartphones, tablets and other mobile devices for work-related tasks. However, if the company is willing to invest in various mobile components whether to improve communications between staff or process mobile payments (smartphones, cryptocurrency, and Apple Pay), then this can contribute to expansion initiatives.

3. Aesthetic Value 

Here’s a rule of thumb when it comes to the interior and exterior décor of your office. If you think it’s too outdated and something from out of "The Brady Bunch" then it’s time to apply new coats of paint, purchase new furniture and become energy efficient. It’s important to maintain a stellar interior décor to impress clients and ensure guests are comfortable. Furthermore, the exterior, such as signage, windows and the overall makeup, of any business can prompt any passerby to waltz on in.

4. Staff 

If expansion is part of your development growth strategy then, you must take on additional staff, whether it’s part-time, seasonal or full-time. Or, if you refuse to hire more employees, then a revamping of your workers take on customer service may be in order. Customer service has greatly changed in recent years so this could include new types of training, particularly in the forms of new technology.

5. Equipment Upgrades 

Is your business still working on Windows XP? Is your business working on those immense monitors? Do you still fax? Well, sorry to say but it’s time to upgrade your equipment to something more modern. Today’s technology has been created to aid businesses and make things easier to accomplish, save on downtime and give productivity a stimulus injection. New computers, new communication tools and mobility should be in order.

6. Content Marketing 

All businesses are trying out all sorts of marketing, but what may be the most effective of them all is content marketing. This could take the form of blog posts, infographics, YouTube videos, ebooks, white papers and so on. Content marketing is engaging to customers and highlights a brand’s authority on a subject matter. 

After years of weak economic growth, a lot of experts say 2015 is the year for revving up the economy. With companies hiring again, workers returning to the labor market and consumer confidence rising, the 2015 economy may experience 365 days of growth and bring about new bouts of prosperity.

Image: iStock

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