AmiSight 6/30: The Diversification Paradox
Many of us have highly focused and excellent businesses in one area. A participant in one of my workshops last week called this "niches to riches." There is tremendous power and discipline in focus.
On the other hand, a highly focused business model always has risks—specific concerns tied to the industry you are in. So this often leads us to think about diversification and adding another arm to our business. And while we do this, we risk taking our eye off the ball.
How do you manage your diversification paradox?