To Expand the Business or Not...That is the Question

by Elaine Garnet, CIC-SIG Co-ordinator

Over the past few months, I’ve been playing with the idea of growing my business to a new level. This means finding new clients. While this may seem like a no-brainer, the logistics and pain of seeking out new clients can be quite challenging. The risks and the rewards can be huge.

Here’s my experience.

Potential and New Local Clients

I rely on referrals and networking leads. If someone refers me to someone, which is a type of reference, then it’s best to follow up on it immediately; otherwise, you risk embarrassing the person who put his/her reputation on the line by recommending you in the first place. Always thank the person who gave you the referral and keep him/her posted on how the lead is progressing. Using networking leads, I found two new clients and two prospective clients; through referrals,  I gained one new client and a repeat client.

More Distant Clients

I took two weeks this August and went out west with my son to enjoy hiking in the mountains. We had a wonderful time. However, I couldn’t resist making a few calls to companies in the Calgary area, including some that turned out to be conference calls.

The company representatives were very receptive and an ongoing correspondence has been set in motion with two of my contacts. I have expressed interest in commuting to Calgary when necessary. Of course one company asked me if I would be willing to move. I am now more or less paralyzed with indecision. This quandary will play itself out over the coming weeks as both parties decide on an equitable course of action. 

Do I move or go national? If I move, should I commute to Ontario or rebuild the business in the west?

Since nothing is decided, I plan to take one step at a time and concentrate on current business. On the upside, part of my holiday expenses are now tax deductible!

Share Your Experiences

Each independent will no doubt have personal experiences that would make your hair curl. If you have any words of wisdom, please e-mail me or write an article for this newsletter explaining why you were or were not successful. I am desperate for advice and badly need another vacation...a non-working one!

About Elaine Garnet

Elaine is a writer with twelve years of experience in the scientific and engineering fields. Her years of experience, coupled with three degrees and one diploma, have resulted in projects with over 30 companies during the four years that she has owned and operated her business—Words To Order. 

Currently, Elaine writes the Scientific Research and Experimental Development (SR&ED) reports that technology-based companies submit to the Canada Revenue Agency (CRA) to obtain tax credits. She also prepares documentation for Industrial Research Assistance Program grants, as well as proposals and business plans.