Failure to consider the broad range of options for growth might lead some to reject growth simply because geographic expansion does not appeal to them. However, businesses can grow in many ways, including: * Offering a wider variety of products or services to an existing client base * Altering credit or other policies to attract additional customers * Diversifying by entering new markets or providing an entirely new product or service If you can maintain current profit margins, it stands to reason that as you grow and increase volume, profits also will increase. In reality, however, many companies sacrifice their profit margins to "buy" growth. The advice, "bid low to get more volume," sounds a lot like "do twice as much work for the same amount of profit." If low profit margins are used short term to gain a long-term competitive advantage, the strategy might make sense. All too often, however, contractors simply increase their volume without making more money. A good growth strategy is to enter market segments that provide higher profit margins as well as increased volume. To accomplish this you need to know your company's strengths and weaknesses. Build on the strengths by taking the time and effort to research markets where they will have the greatest value.