Diversification is Key for Small Business

Apr 28, 2009
If you work for or own a small business, this Wall Street Journal article might be of interest to you.

The article profiles companies that have used the struggling economy as an opportunity to diversify the services they offer and found that doing so has not just helped them survive, but in many cases thrive.

Smaller companies are able to adjust faster than larger businesses and whether it’s finding new markets, or increasing profits with existing clients the general consensus is that there is still money in the marketplace if you know your business well enough to find it.

From a personal trainer who turned his one-on-one sessions into smaller group training, to the landscape service that shifted its focus to environmental awareness, the article provides great examples that could help you generate some idea for your own business.

Photo copyright of jurveston under the Creative Commons License