Growing your business doesn’t just mean more cash in your pocket today. It also boosts the value of your business when the time comes to sell.
To support your growth in 2025, we’re sharing practical tips and ideas to help you expand your business.
In this blog post, our focus will be on these four key areas:
- Increasing your customer base
- Finding new markets—using your existing products or services
- Developing new products or services to access new markets
- Improving profitability
How To Find New Markets
Exploring new markets can unlock exciting opportunities for your business. Here are some strategies to help you get started:
1. Create a Video Channel to Boost Your Profile
If you want to showcase your products or services to a global audience, consider starting a YouTube channel. This is an excellent way to engage with customers by demonstrating products or sharing valuable tips. For instance, if you’re a skilled carpenter with a furniture-making business, posting videos of your creations could help you attract a loyal following.
2. Use Google Global Market Finder
Google’s Global Market Finder can help you identify opportunities in markets similar to your own. It provides insights based on keyword searches, ranking geographical areas by their potential for your products or services.
3. Leverage Facebook and LinkedIn
Social media platforms like Facebook and LinkedIn are fantastic tools for growing your connections. For example, if you run a small jewellery business, creating a Facebook page to display your offerings is a cost-effective way to market to new audiences.
4. Exhibit at Trade Events or Conferences
Trade shows are an effective way to connect with potential customers, showcase your products, and build relationships in new markets. Explore upcoming Australian trade events to plan your participation.
5. Open a New Location
Expanding to a new location can be a strategic move. For instance, if you own a successful wholesale store on one side of the city, opening another location in a different area might capture a new customer base.
6. Bid for Government Contracts
Government tenders can offer a lucrative market you might not have considered. For instance, an IT company providing data security to small businesses might find opportunities to tender for government projects. Need help with your tender application? Get in touch with Rubiix today – we’re always here to assist.
7. Explore Wholesaling or Retailing
If you currently focus on wholesale, consider opening a retail outlet—or vice versa. Transitioning between these models could open up new customer segments for your business.
8. Hire Sales Representatives
Hiring commission-based sales reps in other regions is a cost-effective way to enter new markets. For example, a vending machine business in Sydney could expand by employing sales reps in other cities.
9. Develop an Export Plan
If your products have potential beyond Australia, exporting could be a game-changer. For example, a cured meats business distributing locally might find significant demand in Asian markets.
Your Next Steps
Book a strategy session with one of our Rubiix business accountants.
Together, we’ll brainstorm tailored ideas and create an Action Plan to help you increase your market share – leading to higher profits and a more valuable business.
