Start-up strategies.

[Dave A]

One of the pleasures of starting one's own business is that you can head pretty well in any direction.

So the question is - at that first stage is it better to

Offer a wide basket of services and grab everything that comes your way; or

Focus on a narrow speciality?

Or is there a third way?

[Candy Bouwer]

Selective specialties not necessarily narrow...and not with out careful research and availability or you could end up creating mountains of work in not being able to fit the bill. So avoiding a bad reputation in delivery of service or product.

[Candy Bouwer]

Business Stratagies

Question? Wouldn't it be better to build a base on firm business in hand even if you have to subcontract it for a while, than taking a chance of "possible business" from your existing base. Other opinions please?

[Alan]

Personally i have never been in favour of trusting some one elses work for which i have to take responsibility, so i am not a big supporter of sub contracts. Although have been forced into them on one or two occasions.

[Candy Bouwer]

I hear you Al and yes one does pull ones hair out from time to time ..been there ....done that and have the tee shirt. But in the long haul is it still not better to build on them before taking on the almighty risk of capital out lay..... and then only you realise or decide you don't really want to get involved or.... all falls flat because you can't get a crack in that market. What then?

[Dave A]

Starting up is a scary time. Opening the doors of a new business with nil existing turnover and without some serious research - the kind that most new entrepeneurs don't do - just has to be a leap in faith.

It certainly makes sense to try and build up some volume before this new business becomes your sole source of income. Just how that might be achieved depends on the nature of the business.

[Candy Bouwer]

It certainly makes sense to try and build up some volume before this new business becomes your sole source of income...

Ok i'm convinced i'm on the right track then.... growing my base in this area would be the most prudent at this time and not over extending or spreading myself too thin in the process. There are so many wonerfull idears and concepts to add to business today but haring off in another direction while trying to build a firm foundation would probably not be a wise choice.
Tks Dave.