You’ve worked hard to create a successful business, and now you’re ready to take it to another level. There are plenty of ways to expand; you just have to decide which method is right for you.
To help you work through the problem, we shed light on several entrepreneurs who found ways to grow their businesses and boost their profits.
1. Merge with or acquire another business. When Jayne Hancock Group acquired 14-year-old Townsend Inc. in July 2007, it was simply the next logical step in a 2-year-old relationship.
The two agencies had been working under the same roof for two-and-a-half years. Jayne Hancock’s firm was a fast-growing marketing group specializing in media, sports and technology, while Jackie Townsend’s was a leading technology PR firm focused on branding and PR.