In these lean times, it is more important than ever to not put all your eggs in one basket. If your business is a service type concern, that means that you have to offer different types of services, or the same services to a variety of constituencies. You can’t run a company where you are dependent on just one client to stay afloat, or one type of service or one type of product.
That means that you have to utilize a whole different set of skills in making a decision of what your portfolio of products and/or services will look like. In terms of looking at the market and at trends, you have to become adept at psychographic segmentation. Look at the psychologies of different groups, markets, geographies and disciplines in determining how you are going to diversify to serve these divergent markets.
3 years ago
