Keep in mind the operational requirements needed to diversify. The need for short-term capital, as well as a multitasking workforce, might leave you spread too thin. Consider the effects it may have on your team, production, finances and marketing and whether or not it is worth the strain it might put on your other offerings.
Even if you are in a strong position to diversify, it might not be worth diluting your brand or confusing your customers by introducing a range of new products or offerings. If you no longer specialise in a certain product or service, it might bring doubt to your position as a leader in your particular field.
RosiaBay Business Management Growth Programme assesses all the risks and benefits, puts plans in place to minimise failure and audits results and future improvements if required.