A Startup Company in Multiple Industries?

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A Startup Company in Multiple Industries?
Parag Sontakke, India
We have started a company and we are focusing on 5 fields simultaneously viz. software, telecom, construction and training and electrical contracts (local work).
The reason why we are concentrating on all these fields at the same time is we are a very small company and need sources of revenue generation. We will focus on a single field after say 2 years or generating enough revenue.
Is this a good strategy? Or should we concentrate on a single industry or field only right from the beginning?

Concentrate on 1 SBU
PRABHA YADAV, Entrepreneur, India
If you concentrate on 1 core competence only, this can enable you to gain expertise in that sector. That can help build your ideas and save capital you need later on.

Concentrate on a Single Industry
soe wai mg, Entrepreneur, Myanmar
You should focus on one. Firstly, define which industry is the most suitable for your competence and resources. Being the best in a single selected industry will make the brand, what you are. After building the brand, you can start other businesses you'd like to do.

Concentrate on 1 SBU
Kirk C. Heriot, Professor, United States
Parag, I concur. Focus on one thing. You will have limited resources during the first year or so. Trying to do too many things will simply decrease your ability to do well at any of the five things you have identified.
You need to find one fit between your resources and the opportunities that exits in each of these five major industries.

Go for a Single Business Initially
Focusing on 1 would always be a good strategy as you need to build a brand image in the minds of people.
The above suggested strategy would make you Jack of all, but master of none.
Business just cannot be done on the assumption that all of your businesses will develop to give revenue.
My personal suggestion would be to design a plan considering all aspects like operation, marketing, need-supply balance and go for it. In due time With the time is right, go for expansion and enter other related sectors.

Start-up Company in Multiple Industries: Not a Good Idea
Nat Johnson, Teacher, Ghana
Get a foothold and build capacity to start and grow a business first. Remember, "A journey of a thousand miles begins with a single step." (Lao-tzu 604 BC - 531 BC, Chinese philosopher, in The Way of Lao-tzu).
So don't be carried away by the possibility or the ability of being able to do many things.


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