October 16, 2013 THE VILLADOM TIMES IV • Page 9 Ideas for business growth Getting a startup off the ground is a con- siderable and rewarding achievement. But once a business has achieved a certain level of success, owners often find themselves wondering what to do next. Growing a business may not prove as challenging as turning it from a startup into a successful enterprise, but owners often agonize over the best way to grow their businesses. The following are a few ideas to build on that initial success. Open a new location. Physical expansion is often the first idea that comes to mind when owners think about how to grow their businesses. But physical expansion is not always the best option. Before deciding to open a second location, consider con- sumer trends to determine if the company has staying power, and economic trends to determine if the economy is healthy enough to support both the initial location and any additional future locations. Entrepreneurs should also consider their management style. If that style is very hands-on, who will manage the new loca- tion? Physical expansion can be good for business, but it’s often most successful when owners have a solid management team in place, which allows owners to spend time at both locations. The Small Business Administration notes that diversifying is a strong growth strategy, providing multiple streams of income that can help owners survive the slower months when sales tend to dip. Busi- nesses known for a particular product may want to offer complementary products or services or import or export others’ prod- ucts. Expanding a brand to include comple- mentary products or services is a logical next step to grow a business and build on customers’ trust and loyalty. Develop an app. Many of today’s suc- cessful startups had websites before they opened the doors of their more traditional brick-and-mortar stores. While a strong Web presence is essential for many of today’s businesses, business owners can now create their own smartphone or tablet app. Such apps can allow customers to peruse products and services, place orders on-the-go, and perform a host of other tasks without using a computer. An app can introduce a business to a whole new crop of potential customers, whether they live around the corner from the store or half- way around the globe. Upon introducing the app, expect some technical glitches and solicit user responses to help update the app and make it more user-friendly. Form an alliance with other businesses. Rather than diversifying their product offerings, some owners have found it’s easier and more profitable to form an alli- ance with those who already sell comple- mentary products. Alliances can be good for both businesses, as each can expand its customer base without the kind of effort it takes to open a new location or the cost of producing new products. New owners host contests To celebrate its grand re-opening, Cartridge World of Ramsey is holding two contests. The winners will receive tickets to see Ed Sheeran at Madison Square Garden on Oct. 29 and Denzel Washington live on Broadway in ‘A Raisin in the Sun.’ The winner of the Ed Sheeran contest will be named on Oct. 19 and the Denzel Washington contest winner will be named on March 1, 2014. All are welcome to stop in the store located at 44 East Main Street in Ramsey or call (201) 934-0020 to learn more. The store is now open on Saturdays. Pictured are Greg Carafello, master franchisee, Cartridge World; Dave Anderson, new owner, Car- tridge World; Donna Anderson, new owner, Cartridge World; and Robert Tilton, president of Ramsey Chamber of Commerce cutting the ribbon.