Bilal Basrai has been working in the financial industry since he graduated from college in 1996, and he is committed to the success of his company. He has a great deal of experience in the industry, and was even a top ranked analyst for the majority of the healthcare stocks he covered during his time as an equity research analyst. He is committed to his career, and to serving the needs of his loyal client base.
As a business owner, Bilal Basrai understands that expansion is essential in order to maintain success. However, expansion isn’t always an easy thing to accomplish for your business or company. Not only do you have to understand the present situation of your company in terms of clients, services provided, and of course financing, but you also have to understand the long and short-term futures. Here are some tips for business owners looking to expand.
In order to successful grow your business and expand, you need to develop a plan. Figure out exactly where you stand presently regarding your company overall, and determine whether or not it’s the right time to be thinking about an expansion. Having a plan will leave no question as to when and how to expand your company, and it will help feel at ease because the unknowns will be expelled from the process.
Before you begin to make expansion plans, think about how you can diversify or expand your services into other areas. When business owners think of expansion, then tend to think of new locations or a physical display of growth. But expansion can come in many forms, including offering your clients new services that compliment what you already provide. Think of what your current services could use, and then provide something new to the customer that they don’t already have.
Lastly, think of a new location. This is probably what comes to mind first when growth or expansion is being considered as a possibility. Figure out a location that suits your needs the most, which means doing some research on the people you serve; find out where they tend to be located, and pick a spot with a good amount of foot traffic.
Bilal Basrai understands the work that goes into company expansion, but he also understands that it’s essential in order to stay on top of your industry.