{"id":693,"date":"2017-12-19T06:10:51","date_gmt":"2017-12-19T06:10:51","guid":{"rendered":"http:\/\/myassetsconsolidation.com\/investment-advisory\/?p=693"},"modified":"2017-12-19T06:10:51","modified_gmt":"2017-12-19T06:10:51","slug":"693-2","status":"publish","type":"post","link":"https:\/\/myassetsconsolidation.com\/blog\/693-2\/","title":{"rendered":"Effective Strategy To Expand Your Business"},"content":{"rendered":"

\u00a0 \u00a0<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

I am 34, and a single parent. I run a beauty parlour. My daughter is five years old. My parents support me and I live with them. They are financially independent. I wish to give my daughter a sound education. I also want to expand my business. Please tell me how to go about it.<\/strong><\/p>\n

Narmatha s\"\"<\/em><\/p>\n

Ideas to Scale Up your Small Business:-<\/strong><\/p>\n

It is a matter of pride to expand one\u2019s business but do remember, you need the financial bandwidth to hire good hands, manage accounts and inventories, while scaling up.<\/p>\n

Any business takes time to stabilise. Hence, factor in the running cost of the parlour for 1-2 years. For expansion, explore the possibility of a tie-up with an aggregator. They will help you on recruitment, accounts, business strategies and inventories.<\/p>\n

Although you may need to share some profits, a tie-up will help you scale the business. Your capital will also come down. Moreover, since the aggregator buys high volumes, you can get the materials at a good discount than if you were buying from the market. This will offset the profit sharing.<\/p>\n

Set aside the fixed deposits as emergency fund. Since the surplus is limited, invest for business expansion now and for other goals from 2020.<\/p>\n

Expand in stages, don\u2019t open too many outlets in 2020 itself. Invest predominantly in debt funds and 20 per cent in balanced mutual fund.<\/p>\n

For protection, buy health and term insurance for Rs.4 lakh and Rs.75 lakh, respectively.<\/p>\n

The writer is a registered investment advisor and founder, myassetsconsolidation.com Send your queries to blinefp@gmail.com<\/em><\/p>\n

(This article was published on December 17, 2017,in The Hindu Business Line).<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 \u00a0 \u00a0 I am 34, and a single parent. I run a beauty parlour. My daughter is five years [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts\/693"}],"collection":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/comments?post=693"}],"version-history":[{"count":0,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/posts\/693\/revisions"}],"wp:attachment":[{"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/media?parent=693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/categories?post=693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/tags?post=693"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/myassetsconsolidation.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}