Taking The Big Business Plunge

Starting your own business can be a daunting endeavor. There are multiple ways you can overanalyze a situation because of the many “what if” factors that come with new ventures. However, for those who have a strategic mindset and calculated visions, there is plenty to be gained. If you operate with sublimation and want your business to be self-sufficient, gain a larger market share, and increase revenues, now could be the perfect time to do so.

Personalized products are becoming more popular in the present market. With a vast range of potential customer bases, business owners are consistently marketing their images to stay relevant. From Coca-Cola jackets and car dealership tags, to ADT yard stakes and reusable grocery bags, functional marketing is everywhere and in high demand. If taken advantage of, these opportunities can be highly beneficial for a sublimator. Here is some of our advice on expanding your sublimation business to achieve your goals:

Penetrating Your Existing Market

The overall assumption for a good business model is that you need more clients, however this is not always the case. If you provide your customers with great service and are a trusted partner, they are your best return. It is more effective to build a stronger, mutually beneficial relationship with current clients than it is to outsource new clients. Support and encourage them, because if you can help them achieve more, you benefit in return.

Expanding to a New Market

If you have already supplied the best services to your current client base and can support expansion, branching to new markets can benefit your business. For example, if you currently offer personalized products to photographers, consider offering those same products to local artists or schools. There are many untapped markets seeking personalized products without a current supplier.

Make a list of potential clients, consider which of your products would benefit them the most, and research what markets are popular in your community. If you are struggling to find new customers, referrals from current clients can be a great place to start.

Varying Your Services

The key to variation is staying within the realm of what is working for you while slowly expanding your reach. Consider tackling one new industry at a time, whether it is, professional services, restaurants, hospitality (hotels, inns, entertainment destinations), health care (doctors’ offices, clinics, dentists), or event planning. If you offer similar-yet-different services, such as sublimated t-shirts, you can slowly expand your business while growing your credibility.

When the time is right to increase production, consider investing in a new equipment that allows you to add more variety to your line or decrease production time. This allows for new clients to have multiple products or services to choose from and your old clients to have more they can take advantage of.

Knowing When the Time is Right to Advance your Company

Growing a business is not always easy, but with the right strategy and execution, the process can be much easier. When you are confident and have the right strategy that appeals to external and internal computability, competitive advantage, financial performance, and social performance, it is time to expand. The benefits of company growth far outweigh the risks. While company growth is never immediate, with consistency and drive, there will be progress. How much progress you are willing to make is entirely up to you.