The right time to venture into something new, or expand on the present, depends on many aspects. Whether one is listening to their instinct, closely analyzing data, or aware of marketing trends, business expansion is a fundamental aspect to consider. Expansion provides companies with a competitive edge to stand out and succeed in the market.
An overarching assessment of questions to consider before embarking on the decision to expand a company is a great way to place all possibilities into perspective. Fast Company’s Executive Board members posed pivotal questions to evaluate before one moves forward with plans to grow. From assessing the risks and analyzing your established workflow, to reflecting on your team, and assessing your financial stability, board members shared valuable insights on what expansion entails.
ArtVersion’s Goran Paun shared his point for consideration for business expansion: is it possible to offer a hybrid-remote solution to your team members?
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“When geo-targeting is needed for a particular market segment, it’s time to consider opening new locations. However, we noticed office consolidations and downshifting during the COVID-19 pandemic in the service and consulting industries due to increased hybrid work and work-from-home arrangements. As a result, companies are more efficient in serving clients remotely than they were in previous years.”
– Goran Paun, Principal & Creative Director at ArtVersion
About Fast Company
Fast Company is a leading business media brand that focuses on technology, leadership, world changing ideas, creativity, and more. Launched in 1995, Fast Company continues to develop editorial pieces that reinvent innovation.
About ArtVersion
ArtVersion is an award-winning design consultancy from Chicago with clients around the world. Serving brands since 1999, the ArtVersion team consists of visual designers, branding strategists and developers. Most known for pioneering user experience design as a discipline, ArtVersion has been a trusted partner for a number of Fortune 500 companies, non-profit organizations and notable startups.