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Top five considerations when expanding your business

April 24, 2013

Yikes! Your company is going through an ______ (acquisition, merger, IPO) and you don’t know what to do!  Notice I didn’t use the term furlough or bankruptcy?  That’s because Houston’s economy is too good to use those ugly words right now.

Hopefully if you’re going through any of these opportunities, you’ve been kept in the loop by senior management for months because that’s what you need to start laying the groundwork.  Why is it so important to have internal and external communication plans in place before something big happens?  Because YOU are your NUMBER ONE INVESTOR. Why would someone else invest in your company if you don’t?

Top five things to consider when growing:

  1. Communicate with employees. They are your brand ambassadors and company messages should be communicated to them early so they feel a part of the process.
  2. Develop a marketing communication plan and stick to it. (Trade shows, collateral, media relations, etc.)
  3. Re-brand and roll out. If you’re creating a new look and feel to better represent your growing company, it should be communicated to stakeholders so they feel a part of the process.
  4. Consider holding focus groups to marry all departments.  No one likes being forced to merge with a ‘know it all.’
  5. Develop a media relations strategy and call up those reporters.  It’s important to have coverage of your groundbreaking news and relay the positive things your company is doing to the public.

While there are a million other things to do during growth periods in your company, focusing on the long-term goals will help make the process more manageable and have support from employees and stakeholders at all levels.

For more information, or support during company transitions, contact Paige, paige@paigepr.com