Staying in Business by Staying Out of Some Businesses

Give as much thought to product and market extensions as was given to the original business.

Initial success in one business or with one product can boost a company’s confidence and encourage them to expand.  Although growth is key to long-term success, understanding why the growth has occurred and the impacts on proposed future businesses is critical.  The grass on the other side may be greener, but it may also contain landmines.  So, proceed thoughtfully and carefully.