“Have you ever thought about growing your business, but the idea just seemed too daunting? The other day one of my clients told me that he had been considering expanding his business for quite some time, but when push came to shove, he repeatedly gave up on the idea. When I asked why, my client said that while the prospect of growing his business was exciting, it was also very overwhelming. He didn’t know where to begin and wasn’t sure how to develop a strategy to sustain growth.
I gave my client the following 5 tips that I believe are vital to successfully growing any business:
5 Tips For Successfully
Growing Any Business
- Grow wisely
All too often, business owners try to grow their companies too fast and focus solely on the growth itself. It’s important to remember not to neglect your customers, business expenses, employees, and the quality of your products and services during the process.
- Plan ahead
Sustainable growth is the result of meticulous planning. The most successful small business owners don’t become medium to large business owners overnight. If you want your company to flourish, assess where you are now, review your objectives, and lay out a 1-year, 2-year and 5-year plan for your growth. You may encounter obstacles that you didn’t foresee, so create the blueprints for how you will handle unexpected glitches along the way. And remember to consistently reevaluate your plan! (See tip #3 below.)
- Be flexible
Your growth strategy should be constantly evolving. Because circumstances change, industries change, and technology is always advancing be open to new ideas and to modifying your strategy.
- Invest in a great team
It may take time to find the perfect team prior to growing your company, but it is well worth it. Having a team of people who are trustworthy, passionate and responsible and who will grow with your company will make a world of difference in the long run.
- Know what you are good at and stick to it
While it is a good idea to diversify your product or service offerings, don’t lose sight of what brought you success in the first place. All too often, business owners get tempted to expand their product lines too broadly with offerings that don’t align with their company’s strengths. Focus on what your company has had success with and start there when considering products and services to add. Trying to do everything will leave you accomplishing nothing!
By staying organized, remaining flexible, having a great team by your side, and taking the time to create a strategic plan, you will set yourself up for success. If you have any questions about how Fordham Capital can help you grow your business with a Merchant Cash Advance, give me a call at 1-800-755-9284 or fill out a request here.”
REVIEW OF THE MONTH
Fordham Capital Welcomes
DAVID LEVIN TO THE TEAM
Fordham Capital LLC is pleased to welcome David Levin to the Fordham Capital team as a Senior Manager. David is a graduate of SUNY New Paltz and holds a Bachelor’s degree in Political Science and International Politics. He has more than 40 years of experience in the financial industry, spending most of his career working on Wall Street as a Senior VP for Lehman Brothers. In 2017 after a long and successful career, David chose to retire. His retirement was short-lived however, as David soon realized that he missed the excitement of the financial industry and the rewarding experience of helping his clients succeed.
David says, “I am very happy to be joining the team at Fordham Capital and am excited for what the future holds. I have seen Rob and Howie accomplish great things and look forward to working with them and the rest of the wonderful team here at Fordham Capital. I can’t wait to help as many merchants as I can with growing their businesses. It’s so fulfilling to share in their success. I really love this industry and consider myself a true service person. I take pride in providing exceptional customer service and am happy to be working for a company who shares my desire to provide such a high level of unsurpassable customer service.”
Rob Winston, CEO of Fordham Capital LLC echoes David’s sentiments, “As Fordham Capital enters its 4th year, we are thrilled to add David to our dynamic team. We are very excited to bring someone onboard with such a stellar reputation and who has over 40 years of experience in the industry. I feel that David is the perfect addition to our team because along with his vast knowledge, he shares Fordham’s dedication to providing the best customer service in the industry.”
An avid swimmer, tennis player, and photographer, David and his partner Karen live in Great Neck with Karen’s daughter Shellye and her new puppy, Luna. Please join us in welcoming David to our team at Fordham Capital!
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