For more than three years, Peter Kuperman has been leading Hatch Canada as founder and CEO. Under his leadership, the company uses a progressive, mastery-based curriculum to teach children how to code. Peter Kuperman has grown Hatch Canada by at least 13 percent every month since starting his business.
For most business owners, growing a business can be difficult, but growth is necessary for the success of a company. Following are a few ways business owners can grow their companies.
1. Open another location. For many businesses, this is the first approach to growing the company. Opening a second location can expand a company’s client base and improve operations. Before attempting this, business owners must do a great deal of research, checking trends in the industry and ensuring they have stable growth.
2. License a product. Branded services or products offer a low-cost, low-risk option for growing a business. By licensing a service or product, companies can increase their profits and expand the number of consumers they reach. When entering into a licensing deal, business owners need a competent attorney to ensure they do not lose control of their product.
3. Diversify. This growth option helps companies increase sales, improve profit margins, and serve more consumers. Depending on the company and its industry, owners can diversify by selling services or products that complement their primary offering.