There is a popular saying among entrepreneurs that most people don’t go out of business, they grow out of business. This can be due to several factors, including whether to expand at all or just raise prices with demand, whether or not the proper systems are in place pass off effectively to employees those things the owners did themselves, and whether the markets they’re expanding into have the requisite demand to produce the desired profits.

That’s why in this episode of the podcast I talk to Somnath Sikdar who, along with his business partner Lonnie Beck, successfully expanded their martial arts school, Dragon Gym, from one location in Exton, PA, to two more in Berwyn and Malvern.

In this episode you will learn:

  • How the creation of systems is key to expanding your business
  • Why defining your ideal customer is important
  • The importance of researching the area you want to expand into
  • Researching the potential demand for your goods and services in that area

 

Links & Resources

Other Episodes

If you enjoyed this episode, you might also like:

Podcast Reviews

If you enjoy listening to this podcast, it will put a big smile on my face if you left a review on iTunes, or wherever you like to listen to podcasts.

Steven J. Richardson
Connect with me
Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.
Podchaser - Financial Freedom Podcast