Correct
Brilliant mind, foiled by his advisers, and his own mind.
I shall make sure to keep my mind in check when thinking of ways to diversify!
To Specialize or Diversify?
- Thread starter qdupsoundz
- Start date
I shall make sure to keep my mind in check when thinking of ways to diversify!
Too much diversity, can lead to trouble
Thanks for that, Rick. I appreciate the examples! Makes me want to test the waters before jumping in!
Just remember what Val said -- ya gotta crash, before ya find yer place...
Once ya do -- it's cool
Once ya do -- it's cool
Just remember what Val said -- ya gotta crash, before ya find yer place...
Once ya do -- it's cool
Note to self: BUY A HELMET!! It's gonna be a crazy ride!!!
If there's one thing to be said for diversification, it's this: don't stray too far out of your core business.
Diversification (or doing more than one thing) involves the addition of manpower and management separate from your core or main business. All services may be under one company name or umbrella but each requires separate management by people who know the business well.
Diversification worked for RJR/Nabisco. It didn't work for Playtex when they became top-heavy. Playtex once owned the Mr. Bubble brand and a slew of others. Energizer was once owned by Ralston/Purina. Ralston got too far away from their core business and spun Energizer off as a separate company.
Playtex is diversified under the Energizer Personal Care umbrella. We make tampons (our core US business). Other products are the Banana Boat and Hawaiian Tropic sun care brands. We make baby care products, too... from the Wet Ones brand to sippy cups and disposable bottle liners (drop-ins). Energizer's contributions are the Schick and Wilkinson Sword brands. Each division is separately managed and controlled.
But I digress. One person alone cannot do more than one thing at a time and do them all well. This is why diversication requires additional management and oversight.
Hope this helps.
Diversification (or doing more than one thing) involves the addition of manpower and management separate from your core or main business. All services may be under one company name or umbrella but each requires separate management by people who know the business well.
Diversification worked for RJR/Nabisco. It didn't work for Playtex when they became top-heavy. Playtex once owned the Mr. Bubble brand and a slew of others. Energizer was once owned by Ralston/Purina. Ralston got too far away from their core business and spun Energizer off as a separate company.
Playtex is diversified under the Energizer Personal Care umbrella. We make tampons (our core US business). Other products are the Banana Boat and Hawaiian Tropic sun care brands. We make baby care products, too... from the Wet Ones brand to sippy cups and disposable bottle liners (drop-ins). Energizer's contributions are the Schick and Wilkinson Sword brands. Each division is separately managed and controlled.
But I digress. One person alone cannot do more than one thing at a time and do them all well. This is why diversication requires additional management and oversight.
Hope this helps.
No reason we can't SPECIALIZE in one thing
and DABBLE in a few others.
remember the days when DJ's were never needed for the ceremony?
I dont mind trying something new and different...
but it would only be to satisfy a particular client
not to branch out my business
never could walk and chew gum at the same time anway
and DABBLE in a few others.
remember the days when DJ's were never needed for the ceremony?
I dont mind trying something new and different...
but it would only be to satisfy a particular client
not to branch out my business
never could walk and chew gum at the same time anway