There are reasons to constantly look for diversification. One is the ceiling of your current business. The others are slowing growth, inroads of competition, as well as market shifts. -Brooks Fenno
The thing we lose track of the fastest is the customer and their change in taste and how that drives what our businesses should look like. How do we keep ourselves on the pulse of the winds of change to get a sense of changing needs and desires in our customers and clients? Under what conditions can we consider diversifying our business? What challenges come with taking the same product or service into a new market?
On this episode, marketing expert and author of Corporate Diversification: Opportunities Created by the Winds of Change, Brooks Fenno shares insights on how we should think about change in our businesses.
3 Things We Learned from Brooks Fenno
- The moving cloud of opportunity and how it represents the market we play in
- Why manufacturing firms need to be sold off when the leader wants to step away, and why service firms can keep going
- If diversification solves the issue of competition
About our Featured Guest:
Brooks Fenno is an experienced sales/marketing expert, consultant and author of Corporate Diversification: Opportunities Created by the Winds of Change. As a consultant, he personally served over 250 clients, and he worked with clients such as Gillette, Sylvania, and Procter & Gamble.
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