Expanding

In this module we’ll explore strategies to scale your business profitably and how to manage the risks associated with this decision. You will know it is time to expand when there is an increased demand for your services or products and you cannot adequately fulfill them. Secondly, if you’ve reached a point where you’re getting suggestions from your clients to increase your offerings – this could be extended operating time, services, or even stock quantities. And lastly, your net income shows you have consistent and increasing profits. This is a good time to broaden your service offerings and ultimately broaden your profit margins too