As we get out of the gate in this New Year, remember, long-term success is fueled by organic growth from within…both personally and professionally. For example, when you grow from within at a personal level, it suggests long-term sustainability rather than cyclical dependence on outside environmental factors to sustain your efforts or growth.
The Power of Internal Growth
4 Steps to Growth
Organic growth is one of the most common and straightforward types of business expansion, and according to Ansoff’s Matrix, there are four ways organic growth can be achieved:
- Market penetration – selling more products to existing customers.
- Market development – selling products to a wider market, either at home or abroad.
- Product development – increasing the product portfolio by selling new products or services to existing markets.
- Diversification – selling new products or services to new markets.
Growth Occurs Beyond the Normal
Something that I share with my phenomenal coaching clients is that you can achieve organic growth by selling your products in new geographic areas, or using new sales channels, such as through affiliates, a wholesaler or an e-commerce website. The key is to begin to think beyond normal channels which encourages you to sell to new customers, and selling a different product or new products to existing customers.At the end of the day you can achieve growth organically by reinvesting profit. Click To Tweet