Vertical Growth Vs. Horizontal Growth

Business owners have a choice to grow their business in three ways; horizontally, vertically or a combination of the two.

What is the difference between horizontal growth and vertical growth?

Vertical growth:

1. The business owner works entirely "in" his/her business rather than "on" his/her business.
2. Micromanaging is very prevalent.
3. Empowerment is lacking.
4. Client/Customer saturation is inevitable.
5. The business owner continues to work more and more hours to grow his/her business.

Horizontal Growth:

1. The business owner keeps his/her friends close and his/her competition closer.
2. Vision and Mission Statements are clearly communicated.
3. Leadership prevails over management.
4. Training systems, client/ customers service strategies, SMART goals, and Key Performance Indicators are implemented and systematically reviewed.
5. The business owners finds him/herself working less hours "in" the business while the business continues to grow.

"Get the right people on the bus, the wrong people off the bus,  and the right people in the right seats... and THEN figure out where to drive it. " ~ Jim Collins (summary from the book Good to Great)

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Never a Stupid Question, Right?

A collection of  "Really?!" one-liners,  business owners or potential business owners have shared with me in my free consultation sessions. Many became clients and I have helped them. The rest? Oh well,  I hope they found help somewhere.

Here we go...

"Do I really need a logo and branding, I thought only big businesses had that."

"Well, I want to make more money but I don't trust people."

"Do I have a vision and mission statement for my business? Not at all, do I need one?"

"I really don't plan too much or even have a strategic plan...I kinda just see how things happen."

"I want to open a restaurant because I love to cook, I'm a hard worker, and I have the support of my family...isn't that enough?"

"No, I have never worked in retail, but this new franchise opportunity this guy was talking about sounds great!"

" ...not sure if my business is up or down from last year, but I do know my bills are getting paid."

"What's a target market?"

"My point of difference? I offer great service."

"There is enough free help out there...I don't need to pay for it."

"What measurements do I have in place?...they are all right here (as he pointed to his head)."

" What is horizontal growth?"

"I have more clients then I can handle...I don't need any help."

I have so many more I can share, but you get the point. Now I admit, when I started my own business five years ago I said some of the same things, that is why I hired a coach...enough said.

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We Have Lift-off!?

Entrepreneurial experts around the world continue to debate over why small businesses fail, however they do agree on one thing; now more than ever entrepreneurs need to differentiate themselves in the marketplace.***

We have all heard the buzzwords:

“Branding”

“Point of Difference” (POD)

“Unique Selling Proposition” (USP)

“Secret Recipe” (from yours truly)

Think about this; every Fortune 500 company has a brand, a trademark and a tagline. Did you ever ask yourself, why?... Yes!...we all know the answer!
Because it is a fundamental business strategy!

So why do millions of entrepreneurs fail to create a “Secret Recipe”?

David F. D’Alessandro (best selling author ) says it best:

~ A business based on brand is, very simply, a business primed for success. ~

***Sources: Small Business Administration, Entrepeneurship.org, Personalbrandingblog.com
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