This document discusses considerations for business expansion. It notes that when expanding, businesses should ensure there is customer demand for new products/services by testing with customers. They should also consider if they can afford expansion given startup costs and time before seeing a return. The document also compares hiring graduates versus experienced candidates, noting graduates may have fresh ideas but lack experience, while experienced hires have skills but more set expectations. Finally, it lists popular websites for recruiting graduate candidates.

1. 1
PART 19
BUSINESS EXPANSION

2. 2
EXPANDING
• What to consider
• Graduates Vs Experience
• Best graduate recruitment sites

3. If you are expanding because you want to introduce
new products or services! Ask yourself, is this really
what your customers want? Have you asked this to
your current customer base? Have you researched
this thoroughly?
Consider using https://www.typeform.com/ (free but
limited) or https://www.surveymonkey.com/ or
https://www.google.com/forms/about/ for asking your
customers questions in a fun way.
Customer Wants
Have you tested your new products or services with
random customers? There’s no point in expanding if
you have not fully tested out your new line up.
Product / Service Testing
Expansion takes time and money before you
begin seeing an ROI so you have to be sure you
can afford it. Why rack up serious debt if you can’t
see when you’ll start making it back?
Affordability
Scale of Economics
As a business increases in size, costs per unit
generally fall allowing you to charge less and/or
make more. You’ll want to do all your research on
the economy of scale. Economy, pricing and
expenditures are key to expansion. We can’t stress
this enough.
3
WHAT TO CONSIDER
Launch Marketing
Consider the cost of launching new products / services
and how you will market this. Think about the various
ways of how to let everyone know about this
expansion. You need to come up with a strategic plan.
Competitors
What have they been doing that’s working? And
what have they been doing that’s failed? You can
learn from them (and vice versa). You don’t have to
wait for them to expand first, but keep an eye on
them to see how they’re making their mark and
trying to grow.

4. 4
GRADUATES
VS
EXPERIENCED NON GRADUATES
COMMUNICATION
Their communication skills can be
poor as they have not yet been
exposed to many different situation's.
FRESH
PERSPECTIVE
Graduates tend to have a new
perspective on things and will have
fresh ideas on how your business
can improve.
MORE EAGER
Graduates tend to be more serious
and enthusiastic to impress and do
well. Some have the desire to
progress their career quickly.
PROFESSIONALIS
M
They have not yet developed
professional skills and ways to
communicate effectively.
FLUCTUATE
Their interests can fluctuate,
meaning they may show some
disinterest in some of their work later
on.
LOW SALARY
You offer a much lower salary to
graduates than you can to
experienced prospects.
Positive
Negative
Graduates

5. 5
GRADUATES
VS
EXPERIENCED NON GRADUATES
BEHAVIOUR
Many will provide behavior problems:
lateness, attitude and poor
communication.
GOOD LEARNERS
Graduates are already in the study
and learning mindset. Therefore,
they are more attuned to learning
new skills.
GOOD LISTNERS
Graduates tend to be good listeners,
having had to sit in lectures taking
notes and soaking in information.
EXPECTATIONS
They have very high expectations
regarding their job and salary. They
expect the employer to give them
money as they expect.
COMPATABILITY
They will not be as flexible or as
compatible for many tasks until they
develop skills.
UP TO DATE
Graduates will be up to date with
recent technologies and ways of
working.
Positive
Negative
Graduates

6. 6
GRADUATES
VS
EXPERIENCED NON GRADUATES
TECHNOLOGY
FEAR
This is particularly true for older
exopolymers, you have a phobia for
technology.
HIGH STANDARDS
Experienced employees tend to
know what standards are expected in
their role.
STABILITY
Older staff tend to want more stability
in their life and prefer stable
employment.
LESS EAGER
They tend to be less excited and
have less energy about tasks or new
changes.
DISLIKE CHANGE
Older employees tend to dislike
change with the fear of the unknown.
GOOD
KNOWLEDGE
Experienced employers tend to have
good knowledge and understanding
of tasks.
Positive
Negative
EXPERIENCE

7. 7
GRADUATES
VS
EXPERIENCED NON GRADUATES
EXPENSIVE
Many will cost more than a graduate
will, due to their experience and
knowledge.
EXPECTATIONS
Experienced employees tend to
know what is a viable expectation for
their experience and what is not.
COMPATABILITY
Experienced staff tend to be more
flexible taking on additional tasks,,
but dislike change.
KNOW IT ALL
They tend to have an attitude that
they know it all, just because they
have experience.
SLOW LEARNERS
Older employees tend to be slower
learners.
PROFESSIONALIS
M
The general professionalism of
experienced employees tends to be
good.
Positive
Negative
EXPERIENCE

8. 8
BEST GRADUATE RECRUITMENT SITES
Graduates
Smashing Magazine
(worldwide)
Flex Jobs
(worldwide)
Adzuna
(UK)
Target Jobs
(UK)
Student Job
(UK)
Milk Round
(UK)

9. 9
BEST GRADUATE RECRUITMENT SITES
Graduates
College Recruiter
(USA)
Rate My Placement
(UK)
Graduate-Jobs
(UK)
GRB
(UK)
After College
(USA)
Inspiring Interns
(UK)