The CEO of the firm explained: "Our business has been racing forward, so now is definitely the time to consider expansion. We have two highly accomplished assistant managers who have just received the promotion they so deserved. It's now time for them to put their months of hard work and training into action by building up their own reliable team to champion our clients' products. Who knows: this time next year, there will be plenty more locations of 1Eleven Management Group to visit in Connecticut and beyond."
The decision to take the plunge and begin expansion was after the Keys To Success conference, which served as a way for senior management to realize the entrepreneurial opportunities they are able to provide. As 1Eleven Management Group has an impressively strong relationship with its clients, the CEO believes it was the right time to begin exploring new options for growth.
1Eleven Management Group On What They Look For Before An Expansion
The decision to open new locations was one that was given a great deal of thought by the 1Eleven Management Group leadership team. They believe in sustainability and only have an interest in opening locations they know are going to thrive and perform well. After all, client targets still need to be met, and it is essential that customers get the first-class care that keeps them coming back to learn more about the home improvement products that the firm is championing.
As such, the firm wanted to explain their comprehensive checklist of factors they extensively consider before branching out further across Connecticut. Given that the firm wants to help fellow entrepreneurs to thrive, the CEO believes it is an excellent idea to share these insights to the wider world. They are:
1. Make Sure That the Initial Business Locations Are Performing Well: According to the CEO of 1Eleven Management Group, too many companies decide to take the plunge and branch out even though their first location isn't meeting its financial targets. This is nothing short of essential if there is going to be the cash flow necessary to fund two sets of salaries, two rounds of office rent, along with all the other expenses associated with running a business.
2. Assess the Market: One of the key facts that team members of 1Eleven Management Group learn early is that lead generation and customer acquisition for the home improvement industry is big business. This is because many people are deciding to renovate their homes instead of moving to a new property outright. That said, clear demand is not enough for financial results – there also needs to be a generous population of consumers who have disposable income to spend on refurbishments such as new roofing, siding or windows.
The CEO of the firm added: "Given how we specialize, one of our main priorities has been to constantly monitor the state of the home improvement industry on a weekly basis. This is not just for our own business purposes – but so we are able to provide advice on how promotions or campaigns can be modified to achieve better levels of customer acquisition or retention."
3. Make Sure You Have the Staff in Place to Handle the New Locations: One of the biggest rookie mistakes that a newly expanding company makes is not to properly train the employees they are grooming for greater responsibility. Thankfully, this is not a problem that 1Eleven Management Group actually faces – mainly because it has a long-standing mentorship program to give all team members a thorough grounding in entrepreneurialism and all of the skills needed to run a business. They learn accounting and payroll, business law, human resources management, office administration, recruitment and hiring, logistics, and a lot more throughout their hands-on business leader training. They are also taught about how to surround themselves with go-getters who are able to get out of the office, interact with customers and clients, and get the job done.
The CEO concluded: "I'm not going to lie: the thrill of opening brand-new locations is indescribable. I'm incredibly proud of everything that the team has achieved so far, and the future is looking bright!"
About 1Eleven Management Group
Providing quality interactive marketing for major home improvement brands across Connecticut, 1Eleven Management Group is beginning to set its sights nationally. With a reliable army of trained businesspeople who are branching out and opening new divisions, this is one of the most effective, successful and entrepreneurial operations in the US.
On the ground, brand ambassadors provide gripping campaigns that immediately reflect trends across the sector. The team’s specialized approach ensures they're able to react instantly to changing purchasing habits and deliver clients the results they need.
It's a chance for all stakeholders to thrive, as customers in new areas are able to sign up to exclusive services, our clients get to boost their brand awareness, and our hard-working talent gets the chance to assume more responsibility. The only way this kind of rapid expansion would be possible is with the entrepreneurial training program the firm implements for every new team member. Using a one-on-one approach, candidates determine their career aspirations and set solid targets for achieving them. They then receive on-site training in every aspect of running a business so that they develop competencies needed to run their own campaigns and eventually to run their own offices. Those who wish to train up and get involved in our mentorship program are able to apply via the website.