There are two directions to grow your business, vertically and horizontally. Vertical growth is selling more to your existing market and expanding your share of that market. Horizontal growth is selling new
products or services experiences to your existing market and adapting your offerings to fit new markets. At least that’s the way I look at it. An MBA would tell you that horizontal growth is all about acquiring companies in other sectors. That’s not very useful to most small businesses.
When you start thinking about growing your business horizontally it’s really helpful to properly understand what it is you’re selling. Don’t get me wrong. I’m sure you have a masterful understanding of your products and the services you offer.