By Mario Pallotta, GM, OKI Canada
We hear about company expansions all the time, but are they always positive? Companies both small and large have seen a decline in business expansions due to the lack of an effective business strategy. But what fails for some may work for others, and in order to have a successful launch, you should consider the following:
Step 1: Keep up with emerging trends
In August of 2011, BuzzFeed developed an expansion plan in response to the acceleration of traditional media and how people are consuming their daily news1. BuzzFeed invested in the expansion of their editorial, video and creative departments in order to grow with the ever-changing media.
Step 2: Choose the best place
In 2011, Facebook made the decision to expand its engineering department by opening a second location – this one in New York City2. Facebook recognized New York as a city full of talented technical people and chose that area to solve the challenges of designing and building the next generation of the site.
Step 3: Keep customers informed of your expansions:
In September 2014, Amazon announced its proposal to construct two buildings near the company’s new campus in Seattle3. By keeping their customer base informed of their plans, Amazon gave them a feeling of comfort. This helps to ensure that they will remain loyal customers for all future locations. Remember, your journey is their journey.
There are various steps in expanding a business. BuzzFeed, Facebook and Amazon each incorporated different strategies to ensure their successful expansions. Recognizing the opportunity to establish a presence in Montreal, Quebec, OKI Data Americas recently opened an office in the province – our second office in Canada – and we look forward to expanding our business in service to that region.
Given the steps above, what course of action do you believe is most important? Join the conversation; we’d love to hear your thoughts!
1BuzzFeed Photo –Courtesy of Reuters
2Facebook Photo – Courtesy of Emily Shur for TIME
3Amazon Photo – Courtesy of Business Insider
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