Lifecycle of a Business: Part 8 - Advertising and Marketing
BLM's Lifecycle of a Business series captures key elements of a business's growth story - from the highs of formation right through to lows of dissolution. Our experts’ advice and knowledge will help guide you to understand and deal with litigation risks.
Growth, Diversification, Advertising and Marketing
It is important when growing your business to make sure that that growth is facilitated, strategic and controlled so that it doesn’t become a disproportionate drain on resources and management time. ‘Too much, too soon’ has been the downfall of many businesses over the years, and corporate and commercial infrastructure needs to be in place to support responsible growth.
Ensuring that growth is sustainable and actually beneficial to the business, however, can be a challenge without the right support around you. Even with that support, however, things often go wrong and disputes arise as to the suitability of decisions made by the owners of a business.
Strategic and Structured Growth
Sometimes, despite having the necessary funding in place, the passion to reach new heights and launch innovative ideas or products that you are itching to tell the world about, it can be hard to truly get a business off the ground.
Being able to deploy the resources at your disposal in an efficient and targeted manner to reach your intended audience and generate sales as soon as you can, will make a huge difference in supporting organic growth.
Getting the right balance of legally-compliant advertising and marketing across a number of platforms will create the buzz that is required to achieve your full potential and enable expansion. However, advertising and marketing can also generate unwanted attention from competitors or the public, and can cause both reputational and regulatory issues.
It’s natural to be ambitious and driven when running a business, but sometimes when the sky’s the limit it can be tempting to stretch in an effort to enter new markets, win new business and compete with everyone at the same time on the basis that nothing can really go wrong business is booming.
Diversification is a growth opportunity that can be highly rewarding, but is often a big and inherently risky step for any business to take without thorough advice being sought and the process is appropriately managed.
Our team of business experts can advise you on this key stage of your business, find out more and request further information to support you and your business.
Read further into our series with part 9: Lifecycle of a Business - Appointment and retirement of directors and changing of shareholders.
Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to clients of BLM. Specialist legal advice should always be sought in any particular case.