Expansion and Growth
As your company expands, it will require a talented team of employees and a competitive marketing strategy. Through the guidance of North Dakota’s network of entrepreneurial centers, Innovate ND provides participants the working knowledge necessary to expand their company, increase brand awareness, and generate sales.
Hiring and Retaining Workforce
Before recruiting a workforce, you must ensure that your business is acting in accordance with the required state and federal hiring regulations. Business owners have a number of required duties including properly registering for income taxes, verifying employee eligibility, and obtaining a worker’s compensation insurance.
For a more detailed explanation of an employer’s responsibilities for hiring a workforce, please visit the Small Business Administration.
Marketing and Communications
Even the most innovative business product or service in the world won’t turn a profit if your market is unaware of its benefits. Innovate ND gives potential business owners access to multiple state certified entrepreneurial centers to help develop a marketing plan through:
- Market research and analysis
- Market feasibility studies
- Strategies for business naming and branding
Expanding Sales Opportunities
The one constant in the life of a business owner is finding new opportunities to bring in new customers. There are many ways to build on the business. Here are some of the best:
Your business plan should include what type of advertising and marketing will work best. If you need assistance in developing a marketing plan, start with advice from the Small Business Administration - Growing Your Business.
There are many ways to promote your company and increase the return on your investment. Success does not happen overnight. When you begin to network, be strategic and intentional. This is relationship building which is based on trust. Find out where the people are that you want to target, where they meet, and if they are already part of a network. Here are a few suggestions to find the best fit for your business.
- Networking clubs
- Chamber of Commerce events
- Charity events
- Industry associations
Educate and Train Employees
Whether you have an employee hired solely for sales development, everyone on your staff is involved in the sales process. Educate your employees to understand and promote the company’s goals and mission.
Sell to the Government
Federal, state and local governments offer businesses the opportunity to sell billions of dollars worth of products and services. Follow these steps to certify your business and Register as a Government Contractor to begin bidding on government proposals.
Export Products and Services Globally
The U.S. Government has partnered with major corporations to help small and medium-sized U.S. companies begin and/or expand their export sales. For information on exporting visit Small Business Administration - Exporting and the ND Trade Office.