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#48: What We are Currently Spending Money on in Our Brick-and-Mortar Business

Joann & Kyle, here!

We teach entrepreneurs the action steps to start, build, and open a profitable, sustainable product or service based brick and mortar business.

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It’s time to dive deep into a topic that’s both thrilling and a tad bit daunting for many of us navigating the world of brick-and-mortar businesses. That’s right, we’re talking about where we’re pouring our resources to not just survive but thrive and expand in this ever-evolving marketplace.

Our word for the year is “EXPAND,” and it’s not just a word; it’s a mantra guiding every decision we make. So, I thought, what better way to share this journey than to take you behind the scenes of our latest endeavors? In this special episode, we peel back the curtain on the strategic areas where we’re investing our money and why. Trust me, it’s not just about spending; it’s about investing in our future.

Consulting with the Experts

First up, we’ve decided to bring a consultant on board to navigate the complex waters of franchise operations. The decision to franchise is a giant leap toward expansion, but it’s not one to take lightly. This consultant is our guiding light, offering the expertise we need to ensure we’re laying a solid foundation for growth. They’re helping us fine-tune our operations, ensuring that as we grow, we maintain the quality and consistency that our customers love us for. It’s an investment in sustainability and scalability.

Marketing and Branding Strategy

If there’s one thing I’ve learned, it’s that a strong brand is invaluable. That’s why we’re doubling down on our marketing and branding strategy. This year, we’re not just sticking to what we know; we’re exploring new horizons. We’re talking about a cohesive, omnichannel approach that reaches our customers where they are, whether that’s online or walking by our store. It’s about creating an unforgettable experience that resonates with our community and beyond. By investing in our brand, we’re building a stronger connection with our current customers and making ourselves irresistible to new ones.

Diversifying Revenue Streams

Growth isn’t just about expanding our physical presence; it’s also about deepening the value we offer to our customers. We’re exploring additional revenue streams that complement our existing offerings. And guess what? We’re adding a new service! This decision was sparked by listening to you, our customers, and understanding your needs. This new service isn’t just an add-on; it’s a strategic move to enhance our ecosystem, providing more value and solidifying our position in the market.

Why Expand?

You might be wondering, why expand? Why not just stick to what’s working? Here’s the truth: standing still is the fastest way of moving backwards in a rapidly changing world. Expansion is not just about growing bigger; it’s about becoming more resilient, more versatile, and more impactful. Every dollar we’re spending is a seed for future growth. We’re not just growing our business; we’re growing our ability to make a difference in the lives of our customers and our community.

Let’s Grow Together

As we embark on this journey of expansion, I want to invite you to think about what “expand” could mean for your business. Whether it’s enhancing your operations, elevating your brand, or diversifying your offerings, remember that strategic investments can propel you to new heights. Let’s not be afraid to dream big and take bold steps toward those dreams.

I hope this episode inspires you to reflect on where you’re investing in your business and why. Remember, it’s not just about the resources you have; it’s about how you leverage them to create something truly remarkable.

Until next time, keep chasing your goals and expanding your horizons. You’ve got this!

Links Mentioned in this Episode:

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