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Massive growth is a shared goal for many companies across different industries. As such, companies continuously invest in business growth strategies to increase sales and profits, as part of their essential company objectives. Company growth isn’t always a straightforward path, and many organizations struggle to reach the heights they desire.

Nevertheless, businesses can still develop growth strategies using a variety of ways. Many entrepreneurs endeavor to grasp and implement these strategies, so thankfully we’re here to help with some useful insights. Below are specific business growth concepts you should use to grow your company.

New Markets

Several business experts agree that an essential aspect of business growth is breaking into new markets. New markets provide businesses with fresh opportunities to reach new clients and subsequently earn more cash from them. Therefore, many companies experiencing success often consider opening up branches at new locations. These new branch offices increase your brand’s visibility and availability to more customers, which can mean more profits. New branch offices elsewhere also reduce the risk of doing business because you have access to a broader customer base, which will keep your brand afloat. Moving to a new place always demands a lot of packing and logistics, even for businesses. Reputable moving companies such as 495 Movers can help with this need.

495 Movers are a moving company in Rockville, MD, providing stress-free moving services to clients within the region. Their professional movers are well-trained and qualified to assist with any move type, whether commercial, long-distance moves, or simple relocations to your new home. They also have storage facilities where clients can store their belongings within storage units at different stages of their move. 495 Movers’ local movers can also provide helpful packing services that help clients prepare for move day. What’s more, they’re a recognized company within the moving industry, reputed for guaranteeing clients stress-free moves for over a decade.

Business Visibility

In this highly competitive marketplace, improving your company’s visibility is an essential business growth hack worth considering. Therefore, it’s no surprise that many companies marketing efforts factor in visibility as a key growth component. In this internet age, a website is one of the most effective ways of being visible online to your potential customers. You can easily promote your services, engage customers, and drive sales with a business website, and enjoy organic traffic to your landing page. However, it’s prudent for businesses tobuy IPv4 addresses for website security due to the many online cash transactions inherent with having a business website. It’s also easy to be a victim of identity theft these days due to security breaches, so customer data must be protected. Reputable IPv4 traders such as IPv4 Brokers can help with these concerns.

IPv4 Brokers helps customers worldwide looking to sell or buy IPv4 address blocks or sell IPv4 address space, or even participate in an IPv4 auction. Despite IPv6 slowly gaining ground, IPv4 is still prevalent and becoming increasingly scarce. The buying process for the little IPv4 addresses left is typically risky and complicated for less experienced clients due to several rules and policies that must be followed when buying these addresses. These brokers free clients of the buying hassle by reviewing each IPv4 address block for sale to ensure that the address space is clean and verified by the relevant Regional Internet Registry (RIR). Their legal and technical expertise also helps clients to buy IPv4 addresses from any global region. IPv4 Brokers also negotiate the prices, timings, and laws on clients’ behalf. Consequently, clients get better rates on all IPv4 transactions. What’s more, they’re an experienced company, with over 15 years in the data center and network technology space.

Leverage

Robert Kiyosaki, an investment guru, is perhaps the most prominent endorser of the leverage tactic for business growth. Several other investors and successful businesses also use this tactic to great effect. Borrowed funds are the foundation of these investments, where recipients of these funds leverage their debt to create wealth. Then from their established wealth, they defray their accumulated debt over an agreed loan-term period. These days, there are several loan options for businesses on the market that you can consider to facilitate your business growth. However, many companies shy away from loans due to the several horror stories of legal issues that arise from bad debtor-creditor relationships. A good consumer rights attorney such as Your Legal Rights Advocate can help with these needs.

Your Legal Rights Advocate is a 5-star Consumer Law Firm that helps clients take legal action against debt collection agencies who violate consumer rights. Deceptions, scams, and other abusive tactics employed by creditors to justify the collection of debts are against the Fair Debt Collection Practices Act. These rights are enforced by the Consumer Protection Division of the Attorney General office, and they provide representation to clients to protect them from harassment. What’s more, they offer free legal consultation and have years of experience helping customers avoid the headache of debt harassment.

Monitoring & Evaluation

Small businesses and large corporations can benefit from monitoring and evaluating their teams’ performance to drive business growth. Setting targets is essential because it provides staff with organizational goals that must be worked towards, providing a sense of direction. Then, goal tracking is necessary to discover how they’re faring towards achieving these objectives. As such, there must be a practical way to monitor your company’s performance at the team level. The OKR framework is an excellent example of a suitable means to keep teams aligned for organic growth. OKRs software allows teams to articulate and align goals they want to achieve and focus their efforts on measurable outcomes.

Growth Marketing

It’s no secret that marketing strategies are central to the growth efforts of modern businesses. Content marketing, using LinkedIn, and targeting customers through their email addresses are methods that companies use to grow their business. Growth marketing or growth hacking is a tactic that many modern companies use to optimize target areas within their business operations. Several creative approaches for growth marketing help companies generate leads and get more ROI for their business.

Acquisitions

Acquisitions are one of the common strategies that businesses use for growth. Acquisitions involve a company purchasing another business to expand its operations. Small companies can use this strategy to expand their product line and enter new markets that they couldn’t have ordinarily entered independently. Business experts regularly advise companies to be clear on their goals before making acquisitions since this growth strategy is typically costly.

To conclude, business growth is an essential aspect of company success that all organizations aim for. The above-listed concepts and several other strategies are some of the common ways through which modern-day companies grow their businesses.

The shipping industry is one of the most lucrative sectors in any economy; this can be attributed to the fact that the world is becoming more dynamic, advanced, and interconnected. As organizations get more global exposure, the demand for their products also increases. Freight companies play a very vital role since they help to facilitate the movement of various products from one point to the other. Over the past several years, the number of shipping companies has surged. Consequently, everyone who is in this particular sector has to look for ways to differentiate themselves from the rest. 

Top Shipping is a company that is widely recognized in the freight industry. It offers a variety of services that range from freight forwarding to delivery services. Customers can request a free quote to get a detailed analysis of the cost of shipping. In a competitive space such as the shipping industries, companies have to be creative on how they can attract and retain their customers. 

The pricing of your services is one of the most important parts of any business; offering very low pricing can ultimately hinder your growth since your profit margin would be compromised. On the other hand, by putting your prices high, you risk losing customers to your competition. Thus, you ought to know how to appropriately set your prices to remain profitable in the long run. The following are some important considerations when setting up your shipping quote. 

Determining the Shipping Cost

Shipping cost refers to the direct costs that are incurred when transporting a commodity from the warehouse to the customer’s location. Some of the factors that directly affect this price include the cost of the packaging materials, the cost of labor involved in picking, packing, and sending the items, import and export fees, as well as the courier services that will finally deliver the product to the customer’s doorstep. These are some of the crucial things you need to carefully examine and implement to avoid overpricing your services. Furthermore, if you are planning to do international shipping, you need to determine how you will collaborate with local courier services while still maintaining a healthy profit margin. 

The Importance of Ascertaining the Shipping Cost

Considering that this particular sector has many players, it’s important to do a thorough analysis to establish ways of distinguishing your company. Some firms usually offer free shipping to clients in an effort to lure them. While this can look like a smart thing from the surface, the truth is that this strategy barely sustains a company in the long run. Thus, implementing it might end up being disastrous for your business venture. 

Doing a thorough analysis of your shipping costs can help you to create a concise and fair shipping quote at checkouts. One sure way to gaining customer loyalty is through being transparent with your costs. This will help to create the image that your business can be trusted. 

Types of Shipping Rates and Charges

There are two common shipping rates that are usually adapted by freight companies. Both of these have their pros and cons; hence, you should select the one that is most appealing to you.

Calculated Shipping Prices

This refers to establishing shipping prices based on parameters that include the dimension, weight, and the particular destination of the package. Even though it’s the easiest way to determine shipping charges, the process can be quite labor-intensive if there are plenty of products. Still, it is a suitable way of establishing shipping charges since customers would have to get quotes that are much tailored to specific items, thereby getting the best rates. 

Flat Rate Shipping

Flat rate shipping is a type of transportation where a company charges the same rate irrespective of the items’ weight, size, and shape. However, in cases where the shipping would involve exporting the product abroad, new charges may apply. One key point that has to be established is the fact that shipping companies don’t operate exactly as ecommerce stores. Many online stores tailor the prices of their products to factor in shipping costs. This is in fact the reason why some of them can afford to offer free shipping. On the flip side, a company whose main focus is freight has to be very shrewd to survive. Unless you’re only offering domestic shipping, offering flat rate shipping can prove to be a tough challenge to implement. Nevertheless, it’s something that can be executed especially when you combine it with other innovative ideas. 

Things to Consider When Setting Your Shipping Cost

There are three basic components that can be used to calculate the appropriate shipping costs; these include the expected delivery time, shipping point, and the weight of the package. 

Expected Delivery Time

One of the key determinants of shipping is how soon the customer wants the particular item; some clients may be in much need thus requiring it the following day, while others can wait a couple of days or weeks before they finally receive their items. The shorter the duration, the higher the shipping. 

Shipping Point

Another price determinant is the prospective distance that would be covered when delivering the product. Shipping costs tend to be directly proportional to the distance that is expected to be covered. This implies that you should break the distances to particular zones. The stipulated zones would thereby be used for determining the appropriate shipping price. 

Weight of the Package

The weight of the package is yet another important factor when establishing cost. When using this method, you should not only use the net weight of the product itself but also every other item that has been used to facilitate the successful transportation of the product such as various support materials.

Conclusion

Shipping has become a very integral part of our modern-day life. A lot of people and industries depend on it for their daily operation. As a freight company, having a quote is extremely important since it helps in communicating the services your company is offering. Be sure to implement the strategies mentioned above when determining the shipping quote in your business. 

The extraction method to recover oil and natural gas from shale rock is known as hydraulic fracturing. It is about penetrating the strata layer where the energy reserves exist when it comes to brine for fracking. And to release the reserves inside, there will be a direction of chemical mixture, sand, and water at the rock.

The natural gas and oil can begin to flow out of the wellhead with this process’s success. Drillers can access the strata through vertical or horizontal drilling, based on the reserves’ location. There will be a new place created by each new point where people can process various needs where energy releases occur.

For creating new wells, governments all over the world award hundreds of licenses every year. Many organizations find profits in their fracking activities even with the pressure of drilling costs, environmental contamination concerns, and legal challenges. The advantages and disadvantages of fracking could be the answer to whether to continue to use this method of energy access.

Pros of Brine for Fracking

Accessing Challenging Resources Using Fracking by Companies

With the use of more traditional energy extraction techniques, rigs can reach oil and natural gas resources that could be challenging to access through fracking. With the expansion of this industry over the past generation, there has been a significant boost to domestic oil production in the US. With the recent estimates BBC published, it provides fuel security to the US and Canada, lasting around 100 years.

With this advantage, there is an opportunity to create electricity at the carbon dioxide emissions’ 50 percent using coal instead. Even with some issues people have with fracking, it can be a positive element to a country’s infrastructure. 

Fracking Installation Are Not Permanent

There won’t be any permanent scars on the land from fracking wells. There is also a minimal need to access the processing rigs and companies even though property owners have no rights to the natural gas and oil reserves under the property. They can now add the energy reserves to the local infrastructure for distribution, refinement, and processing when the well is tapped, and the drilling process is complete. For some people, they operate with little supervision from mechanics and other repair personnel.

Disadvantages of Brine for Fracking

Water Contamination from Well Breakdowns

Scientists inform that high-volume fracking can increase the risk of localized water contamination. Energy providers have the habit of extending their staff capabilities until the coverage is too thin to supervise each well properly. The borehole can be contaminated, and there will be a situation of premature corrosion, which allows energy supplies to leak into the water.

It Changes the Way People Use the Environment

The activity changes the way people access those lands when fracking happens in recreational areas. People must find ways to protect wildlife in the area, avoid an unknown liquid runoff, and work around the drilling area. There could be significant disruptions to local animal species with minor changes to habitats, even if the impact on the land is minimal.

Nowadays, there are more resources and tools available for the modern CFO to leverage. From innovative Artificial Intelligence tech to financial metrics, there is so much to consider. As a modern CFO, you may be wondering where you should be really focusing your attention. From data to forecasting, this article will go over three specific things that every modern CFO should be using to succeed.

Traditional Metrics:

The fact is, no two companies are alike. However, that being said, the metrics typically remain fairly consistent when talking about one business versus another. The leaders of finance at either a bootstrapped startup or a fortune 100 company will need to fully understand these metrics if they are going to be able to make wise financial decisions that take into account what’s best for the company.

For instance, just about every CFO will need to have a strong understanding of the business’ current ratio and working capital. Without this, they will be unable to fully comprehend the company’s financial standing. At the same time, the cash flow the company has will allow the CFO’s to figure out how healthy their business operations are and how capable their customers are of paying on-time. Lastly, the CFO needs to be able to accurately view metrics on both sales performance and customer satisfaction in real-time in order to complete proper assessments on the financial health of the business.

A Centralized Dashboard

You may be wondering whether you can make a simple spreadsheet to track everything. Unfortunately, that’s not enough anymore.

While a lot of businesses do in fact have a lot of financial management is done from a simple spreadsheet, it is becoming increasingly common for even medium-sized businesses to take it up a notch. For pretty much any company that has a lot of different products, services, or even regions that they need to cover, a CFO is going to need to have a centralized dashboard that is dynamic and that updates in real-time. That way, they will be able to see the entirety of their company’s metrics at the same time to make better assessments.

What’s even better, when a CFO has a cloud-based system that they can fall back on. This will give them customer records and real-time data that can help them maintain confidence they are making decisions based off real numbers. CFO’s tend to depend on their staff in order to handle some of the most basic tasks including figuring out the margins on a specific service they offer. This can send even the most well-trained staff into complete chaos if they are only using spreadsheets to track this data. For the finance teams that have the benefit of a connected cloud-based system, they will be able to answer important questions like that accurately in a matter of seconds.

Accurate Forecasting

What’s ironic is that the forecasts that we typically used in the past really gave an overview of past events. After all, CFOs were limited with static spreadsheets and had to use past data to predict future growth and trends. Not only was this flawed because the data was aged or inaccurate, but it also relied too heavily on having the right formulas. By connecting the front office to the back office data, you will be able to get a lot more information to base forecasting on. This will allow you to get much more accurate forecasting and you will have a lot better analysis that is based on real-time data allowing a CFO to make better decisions for the business as a whole.

The majority of our clients are relatively small in terms of scale. Most do under $10,000,000 in sales each year. Because of this, they aren’t privy to having the same in-depth financial reporting that larger companies have. Nor do they have professionals analyzing their company figures. Many don’t even have bookkeepers that are keeping track of all of their finances.

Along with this, a lot of our clients that are business owners don’t have the ability to read their own financial statements. While the majority can read the profit and loss statement, practically none of them can read and explain their cash flow statement. As far as reports are concerned for a business owner, cash flow statements are perhaps the most important.

Because of this, I will be going over some of the reasons it makes total sense for a lot of private companies to actually rent a CFO for startups or for their business.

Reasons To Rent A Chief Financial Officer (CFO): 

1. Renting a CFO is much more cost effective than hiring a professional to work for a salary. After all, you pay less for it and not all businesses will require the services of one throughout the entire year.

2. They will be able to help you understand where your cash is coming from, where it is going, and how to properly budget for changes in cash flow. 

3. A CFO will help you understand all of the key performance indicators to analyze your company. 

4. They will be able to help you develop ways to measure the drivers in your business to ensure your key performance indicators are moving in the right direction.

5. They will be able to help you understand how to gain financing you need for your business.

6. They will be able to help you ensure that your company remains as profitable as it can be by focusing strictly on your cash flow and optimizing it. 

7. They will be able to help effectively position your company in the best possible way so it is able to become more valuable whenever you intend on selling it in the future.

I’m looking forward to seeing what you think about hiring a Chief Financial Officer for your business.