Mother Of Invention

If necessity is the mother of invention, reinvention might be its closest sibling. And reinvention is a hallmark of diversification strategies. A recent article, Diversification Strategies To Thrive In A Changing Global Economy, expanded on the need to consider geographic and contextual diversification of current services to build new revenue streams.

But to move a diversification strategy forward successfully, there are a few keys to success: identifying the trends, determining how to extend your organization’s core expertise in those areas, and remaining flexible in adapting to new markets. The start is identifying market shifts—and how those shifts open . . .