Gazelles, also known as fast growing companies, become so due to having some interesting characteristics. Most are in the retail, services or manufacturing industries. See INC.com list of 2011 fastest growing companies list:http://www.inc.com/inc5000/list/2011. In addition, according to Biz Magazine, the characteristics seem to be these traits:
- 3/4 describe company as being family owned.
- 75% have been in business more than 10 years.
- 35% founded firms more than 20 years ago.
- Small companies are most common as gazelles (41%).
- Large companies (more than 100 employees) make up 29%.
So how do you grow your business? Some ways to help it grow can be simple but very effective methods:
- Open another location. If you franchise it out, it allows you to grow without requiring you to manage the new location.
- Diversify. You can diversify by selling complementary products, teaching adult education, import or export yours or other products, and/or become a public speaker.
- Target other markets. Use your imagination to find other markets you may be able to reach.
- Expand to the internet. Have an online presence to help maximize your businesses exposure.