An excellent marketing guru and speaker I am aware says there are only three solutions to grow your business: Additional customers, Higher average sales/revenue for each customer and A better purchase frequency from your clients. Although this is an excellent model to divide and attack the challenge, it is more a classification of types of ways than actual solutions to grow your company.
#1 – Identify the company's weakest link and make it a strength – Each and every business has many boundaries, but usually one or two are more of a bottleneck on growth as opposed to others. As each limit is taken away the amount of success of the company can leapfrog.
#2 – Be prepared spend more to get a customer – Many corporations I coach and talk to are very limited in their methods of customer purchase. Typically you should have at least three to four good solid ways to get customers and maybe a lot more.
#3 – Add channels/Niches – A powerful way to build a business which is more defensible against big companies is to either build a portfolio of products for your same customer base, or build a portfolio of niches inside same core competency. You can explore more through www.youtube.com/watch?v=e1CxCwpsU2o.
#4 – Figure Out Your Sales Management Process and not Stop Scaling Sales – Most of the time when I go in a newer business that is the low millions in revenue the founder or CEO has done some sales and/or hired one or two salespeople, but not really identified the sales management procedure well yet.