How to Expand Your Business Vertically & Horizontally

If you want to grow your business and make more money, knowing the difference between vertical and horizontal expansion is key. They relate to either expanding service or expanding target audience. For example, I know a founder, Leslie, as her business, she edits the written statement on law school admission applications. She could expand her service vertically by offering advice on the admission process more broadly, Not just the writing portion. Leslie could also offer the same writing service horizontally to students applying for MBAs, med schools, or any other undergraduate or graduate program. So with vertical expansion, you're offering more services to the same audience. You're going deeper. With horizontal expansion, you're offering basically the same service to different audiences. You're casting a broader net.