Tag Archives: diversification

Diversification for Dummies

10 May 2013, by A. Cedilla

 Who will diversification help?

  • Anyone trying to run a business and grow their customer base.
  • Anyone who is juggling responsibilities with marketing, billing, customer support and product services with not enough time to attend to all of them properly, and wants to focus on only doing a few things–key things–effectively.
  • People who don’t want to waste their energy or their time on doing things that don’t work, and especially want to make their time work for them.

What will diversification mean for you?
It means splitting up your focus among a few select methods to be more mobile. It means casting a wider net to get more of what you want and filter out what you don’t want. It can mean outsourcing certain things to give you more time to do what you’re good at.

You establish more support anchors through diversification, and when one method misses or no longer helps, you can get a new one to replace it while the others will help carry the load.

Wise diversification in a nutshell: Do less stuff to be more successful? Yes, just make sure the stuff you’re actually doing is actually working for you.

 

To illustrate, the difference between hitting the bulls-eye and scatter-shot effort is practice and focus. You don’t want to waste your efforts, you practice and learn until you can make sure that you hit what you’re aiming for, instead of firing and hoping to nick something. That’s one.

On the internet, making a splash is a way of getting attention. And while it’s great for getting the spotlight focused on you for the moment,if you don’t do anything with it, it’s a dead end.
Making a splash is only one way of getting attention. You also have to keep that attention, and you can do that through other means. If you only focus on getting attention and publicity but not trading on it, earning from it or connecting with it, all your efforts go down a bottomless hole with nothing to show for them. You need reliable results.

That’s two.
The reason the analogy about ‘not putting all your eggs in one basket’ works is because it’s perfect. If you do put all your eggs in one basket and you drop the damn basket, you have nothing left. That’s why you need to diversify and be smart about it. Remember focus and reliable results? Focused efforts lead to desirable results. Continue reading Diversification for Dummies

8 Signs You Should Diversify 2

08 January 2010, by A. Cedilla

In part one, we shared four indicators that you need to diversify in you business dealings. In this, the last half, we invite you to take a closer look at how need,passion, and surprise can help you and your business on to greater heights.

5) When you need to make more money.

In order to expand, to go beyond past a plateau, you need accessible resources, and that usually means money, not just imagination.

You need money to make money. So think of what changes you can do with your product line, your services, to tailor them to the changing and emerging markets.

See, diversification, in the most literal sense of the word, means to make in different ways.

In financial circles, diversification means spreading your investment around to lessen the risks of over-reliance in any one product, helping you grow your money.  In marketing, its aim is to make more money by creating new products and venturing into new markets. Continue reading 8 Signs You Should Diversify 2

8 Signs You Should Diversify 1

06 January 201, by A. Cedilla

It’s great when you’ve reached the point that you can step back and take a proud look at what you’ve accomplished. A stable business, balance (or as close to it as possible), and a steady flow of income that you can rely on…oh, happy day!

Well, here we are to pop your bubble of contentment — and help you brace supportive structures under your realized dreams.

Nothing stays the same forever.

Nothing stays the same for very long, either.

Inner and outer forces (and factors) work together in unplanned — read: random — ways that can set you far off from where you started, or planned to go.

But if you managed to follow through on your important goals, then there will come a point when you realize that in certain areas, you’ve reached a plateau, and if these areas are important to you, you can’t leave their eventual slide into entropy to chance. You need to move before things slide, think ahead of the curve.

But then how would you know? How can you tell when you’ve reached that point, or are about to? Continue reading 8 Signs You Should Diversify 1