MemberJanuary 26, 2009 at 12:53 pm
From a slightly different angle – my company started as a point of sale company then we "bolted on" the sign business. As POS declined I then bolted on the sign fixings and that is my core business now. My point is that diversification is not just an interesting concept but an essential means of future proofing your business. If your sign business is booming it doesn’t mean it is guaranteed to stay that way. Being able to dip your toes into other markets lets you see what works and what doesn’t.
In the transition period between my company being a POS business and a trade supplier we tried loads of things including mod-edit car graphix, mod-edit trade letters supply and – I am reluctant to admit – even mod-edit sex toys – which was strange, funny, interesting – and not profitable at all. The point I make though is that the more things you try out the more likely you are to come across a successful additional revenue stream. Chris