At some point, you will be faced with the decision of how to make your business more profitable. You might be in need more money or you might just want to grow you home-based Christian business to keep up with your competitors.
Watering and Working
How often do you water your business? Christian businesses thrive and grow best when they receive frequent doses of living water, the Word of God.
I Corinthians 3:7 reminds us that although watering and working nourishes your faith and business, don't forget it's God that provides the increased harvest.
Horizontal vs Vertical Growth
Rather than pursue a vertical path of selling more of your current products, you can always opt to expand horizontally. This type of expansion is where you offer items that compliment your current products, with related things that your customers might want and need.
If you're selling religious books and tapes, you could consider offering self-publishing or custom recording services to your existing customer base.
5 Tips To Expanding Your Profits
Expanding horizontally is a good alternative when vertical growth can't be justified, but you still need to grow.
Offering more products is a good idea for expanding Christian businesses that need to generate more sales without incurring additional marketing cost.
Get your vendors to provide drop shipping so you won't have to purchase more inventory or add personnel to expand your product line.
Instead of directly adding more products or services you can also form joint ventures with other companies.
If you can add more products or services to your home-based Christian business without a large infusion of cash or assuming increased risk, then your ready for horizontal expansion.
Planning Your Growth
The key is to make sure the numbers and the timing is right for your business. You don't want to end up working a whole lot harder and only get a small increase in your profits.