Strategy and a well-designed business
plan are key to a successful brokerage. The
effective leader can then direct and control
growth while maximizing market
opportunities. Three primary growth options
should be considered in any overall
strategy: service development, market
development, and diversification. In each,
options exist for assessing both existing
and new market areas, therefore the
brokerage has six alternative strategies to
consider.
Growth within this context is not
specifically limited to an increase in sales
force, but refers to a host of alternatives
by which a brokerage can improve image,
accomplish market penetration, diversify
cash flow, maximize specialities, or
consolidate competitive position, to mention
a few.
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