My favorite school subject was always history. Mr. Feldstein, my 7th grade teacher, was particularly good, and his lesson on how the United States expanded west of the Mississippi will be one that I’ll never forget. He really hammered home the concept of Manifest Destiny – the 19th century belief that America’s westward movement was inexorable; that American expansionism was simply “destined” to happen, or so the era’s politicians and influencers believed.
In today’s business environment, it’s rare to find a company that doesn’t want to or see itself growing. Sure, there are some that are happy with the status quo and content to keep the same amount of revenue flowing. But these companies are in the minority. Successful businesses see opportunity in success, and take what they’ve done well and see where they can not only get better, but also bigger – increased capacity, capability, and, in the end, profits.
Businesses can grow and expand in a variety of ways, and the label industry provides great examples. A look at the most recent headlines show leading companies expanding in growing markets like India, China and Latin America. And at their respective homes, suppliers and converters are acknowledging their success, and adding capacity to their manufacturing plants as well as adding new equipment to better serve customers. Acquiring another company and taking on its capabilities and customers is another aggressive growth tactic, and one that continues to trend. In this month’s Narrow Web Profile, we take a look at Labeltronix, a label printer that just added significantly to its manufacturing space, just a few short years after acquiring its first flexo press.
Expansion in the industry occurs on many levels and includes product lines, people and presence. Growing your online presence has never been more important. Redesigned and re-launched websites, company blogs and social media have all become useful tools in helping to get the word out about what you can do for your customers.
Along the way, whether it be addressing physical growth in the form of a new plant, or an addition to your existing one, or whether it be taking on marketing specialists or website developers, the endgame is the same – fiscal growth. Making more money. Because like the mentality of those American pioneers, it just seems natural to want to get bigger and better – to have a better quarter and a better year than the last one.
Take a look at your business. If staying stagnant is okay with you, then that’s one thing. But if you believe in your own version of manifest destiny, I’m sure you’ve already taken a look at how and where you can grow, and believe it is only a matter of time. After all, it’s your destiny.