Chasing Only Profitable Work
There can be a negative effect to diversifying. After being told throughout the recession that a good way to strengthen cash flow is to branch out into new markets and product categories, integrators are too often chasing one-off projects that don’t suit them. That can tarnish an integration business’ reputation.
At least, that’s what Wilson said he’s seeing. He doesn’t blame integrators. “Reps tell you to diversify. I’m telling you to focus. Who do you believe?”
Wilson says the best path to profitability is usually staying true to your business plan. “I recommend focusing on repetitious work. That works better than chasing work around the country and the world.”
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