BRX Pro Tip: Are You Ready to Grow Your Business in Other Markets?
Stone Payton: [00:00:00] And we are back with Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. Lee, how do you know if you’re really ready to grow your business in other markets?
Lee Kantor: [00:00:11] Well, it’s great that you’re considering that because growth is so important in all businesses, so maybe another market is the right move for you to make. But before you do that, you’ve got to have three things figured out. Number one, you better have a playbook for the optimal way to launch and run your business that you can hand off to somebody else. Without a playbook that gives people kind of a paint by numbers way to run your business, you’re going to have a hard time.
Lee Kantor: [00:00:37] Number two, you better have a clear picture of the persona of an ideal person to run your business in that other market when you’re not around, because that person is going to be your boots on the ground, they’re going to be doing all the work. So, you have to know kind of the characteristics and traits that that person has, and now you’ve equipped them with a playbook to be successful so you’re on your way.
Lee Kantor: [00:00:58] And then, lastly, you better know that that market is ready and willing to buy what you have. If the market isn’t right, if you don’t have the right person in the market and you don’t have kind of a plan on how to attack the market, you’re not going to be successful. So, don’t think about expansion until you have these three things figured out.
