Expanding your existing business is a necessary aspect to your professional growth. Expansion can be much like starting over in many ways. Starting new products or services can give you flashbacks to the headaches you had when you first opened. Too rapid of expansion can drag your existing business down, sometimes to the point of putting you out of business. If you expand your business too slowly, it can be like that splinter that you just can not get out from under your nail. Your existing customers will tell you where to expand to, either by product inquiries, or lack of significant services in the area.

When the expansion bug hits you, advertising is a key way of getting the word out there about your new products or services. Advertising can be inexpensive, simple fliers attached to your existing product, can get the attention of your already happy customers. If you already have television or radio advertising, you will have to change your ads, which leads to a little more monetary investment. Either way, the idea is to get the word out about your new products or services.

Expanding your menu is a fun and fattening time. Salesmen bringing you free samples to try, whipping up items to sit down and eat.. Delicious. An easy way to expand your menu is by using any existing supplies you already have. In our previous business, we made subs, pizzas, and chicken wings. Since the equipment was already in place, we added two items, chicken tenders and French fries. Boneless, breaded chicken tenders with crinkle cut french fries. From that main addition of the chicken tenders, we were able to offer boneless chicken wings (the tenders shaken up in the wing sauce), and chicken parmesan subs, along with a very popular kids meal.

If your in the services business, adding extra services is as easy as hiring a new person on. For example, maybe you have a pretty successful accounting business. You might think that is the extent of your business, but hiring a good investment specialist to your company roster, can create growth for your business. Again, using your existing clients to springboard the word about a new service can ease the process. Merging with a "sister" style business, will immediately add customer base and exposure. A good idea would be to do in depth research before taking this step, as it can be a complicated process.

Opening up an additional location can be a lucrative expansion choice. If you already run a successful business, why not two? Making sure the location is not so close as to take existing customers from your first location, but not so far as to not keep an eye on it. Opening a second location, or branch, is easier to do based on the model already in place. Securing funds is easier based on a working relationship with your bank. Always remember that location is key, then mirror the new branch to the existing one. Your experience will help with the opening and make for a much smoother transition.

Always remember that expansion is sometimes risky and always time consuming. If done at a moderate pace, business growth is smooth and seamless. Sometimes, it is constant headaches and you second guess your decision. When this happens, take a step back, breath deep and picture the very first McDonald's, Sears or Ace Hardware, all these companies started with just one small location and grew to international status.

Learn more about this author, Matt Mahan.
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