- Whatever your plans are, discuss it with others. They are happy to think with you and it prevents tunnel vision. Of course, the approach should fit your way of working. Therefore, never just copy someone else's growth strategy. Make a good inventory of what is needed to take advantage of your growth opportunities. Do you have the expertise in-house? Which opportunities seem the most logical to take, given your company's profile?
- Once you are enthusiastic about a particular plan? Then it is human for you to tend to get to work quickly. But that is a trap. Always make a growth plan. Get a clear picture of who your target audience is for the new plans. And in what way you can add value.
- Also map out the main risks associated with your growth strategy. You can't predict the future, but you can make assumptions and think about the consequences. What are the opportunities and the risks you are calling for and how can you respond to them?
How can you grow your business?
Some examples of growth opportunities
- Get more out of existing customers
- Broaden or narrow your market (specialise)
- Make cross-connections with other sectors
- Look closely at what is happening in the market and respond to it
- Set up smart (online) marketing
- Entering foreign markets
Map out key trading risks if you want to grow
Growth brings new risks: new customers, political uncertainty, different payment cultures and exchange rate fluctuations. Especially when you cross borders, the risks increase. One of the main risks when doing business abroad is payment risk.
There are many reasons why (foreign) customers do not pay their invoices: political circumstances, the economy, their banking relationships and the business culture in that country, to name just a few. It is important to delve into these. Forewarned is forearmed. The same goes for clients in Belgium, by the way. Some things to at least take into account:

CUSTOMER KNOWLEDGE

PAYMENT MORALE

OWNERSHIP

CONDITIONS
Is exporting something for your business?
An export plan helps you prepare for entering a foreign market. It makes the difference between success and failure. If you want to go a step further and cover your payment risks, opt for credit insurance. This will give you insight into the financial health of your customers. And if your customers don't pay, you will be paid the damages.
Opportunities and risks in 6 European countries
Managing your trade risks: choose credit insurance
Credit insurance helps you and your business move forward. It gives you peace of mind and security. Especially if you want to work on your customer base. Or if you want to enter new markets.
How? With always up-to-date information on markets and sectors, you know how to assess your opportunities. Add to that the customer check and extensive coverage. And you ensure a stable starting position to welcome new customers and markets.
With credit insurance, you move forward and turn doing business into... TAKING OPPORTUNITIES!