When you own a business, it is easy to get caught up in expanding and trying new ideas. Sometimes it is easiest to stick to what your companies or organization does best. I am the director of a group that puts on concerts at a local university, and we started getting a little carried away planning events other than concerts like speakers and forums. They were fun, but we had no experience planning them, and the attendance severely dropped. Students knew our events for the great concerts we put on, not speakers or anything like that. It isn’t bad to try new things, just don’t lose focus on what keeps your organization afloat.
Kind of an example against the previous idea is what happened to GM. They were great at making SUV’s and other huge, gas guzzeling cars. That practice was the cars they were dealt. They rode that train a little too long though, and have now filed for bankruptcy. This shows that there is a fine line between sticking to what you are good at, and still trying to be innovative.
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Home based small business opportunities, work at home internet businesses and online business opportunity guide.
Tags: business, Business Ideas, Small Business, strategy
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