Whether you’re a seasoned entrepreneur looking to branch out or a startup owner eager for new opportunities, expanding your business portfolio is a vital skill. In the constantly shifting business landscape, achieving this might seem daunting. However, long-term success hinges on not just maintaining your current ventures but also on your ability to grow your business portfolio strategically. Mastering this art leads to sustainable growth, prosperity, and a broader impact on your community.
My entrepreneurial journey started in 2017 after spending over 20 years in the media industry. Feeling I’d accomplished all my career goals, I decided to make a difference in my new home of San Antonio. While exploring various ventures, I discovered the Streamline Brands portfolio, which highlighted the importance of swim safety. I saw its potential value and decided it was the right fit for me, becoming the owner of SafeSplash Swim School. Enthusiastic to expand, I now proudly own five schools in the San Antonio area, driven by my strategic growth mindset.
I’ve learned several key lessons from my journey that I believe can help other business owners interested in expansion opportunities.
Focus on Your Employees
Growing your business can be challenging, but keeping your focus on your employees and supporting their development is crucial. Employees are the backbone of your business, ensuring everything runs smoothly. Offering clear career paths for growth cultivates a motivated and knowledgeable workforce dedicated to scaling alongside you. Being empathetic and flexible strengthens this approach, as it fosters an open environment where employees feel valued and committed.
Prioritize Solutions
Adopting a solution-oriented mindset helps you focus on achieving results rather than dwelling on challenges. Obstacles like finding the right employees, dealing with real estate, and navigating regulations are common in expansion. Having a dependable team to collaborate with ensures you’re not handling these challenges alone, allowing for effective problem-solving and gaining fresh insights into your business’s needs.
Make Decisive Moves
Being a good decision-maker means understanding your business’s needs and goals. Involvement in daily operations provides insights that guide your decisions and helps set you up for successful expansion. Regular audits, SWOT analyses, and data reliance are critical, but don’t ignore your intuition. Each location will present unique challenges, and trusting your judgment will help you navigate them successfully.
Engage with Your Community
Building a strong community presence is essential for establishing trust and credibility. Being active in the community helps your business gain recognition and access valuable market insights that support future expansion. It also opens doors to partnerships and collaborations with local businesses, offering resources and support crucial for growth.
These strategies have been essential throughout my business journey, from my first location to the fifth. Every business is unique, but these principles apply universally, helping to make growth manageable and successful with the right mindset, team, and community support.
Robert Canales successfully owns five SafeSplash Swim Schools in San Antonio and Boerne, TX. After 20 years in media, he discovered his passion for swim safety and opened his first school in 2017, continuing to expand ever since.
