It’s one thing to start a business—it’s another to know how to expand a business. But, knowing how to expand a business is extremely important if you want to sustain your business’s success and your own financial well-being. If you fail to grow and adapt your business, you risk being left behind as the market changes or having a competitor cannibalize your business.

How to Expand a Business: 10 Tips

Add new offerings
Optimize your existing market
Claim a niche
Move into new markets
Seek referrals
Launch an eCommerce website
Partner with other businesses
Acquire a new business
Franchise your business
Research your competition

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