Business Diversification
What are you guys doing in your business to keep from “having your eggs all in one basket”? Currently we have a bulk of our business tied to the housing and construction industry and that has me quite concerned. We were able to survive the Great Recession basically because of our name and how long we had been in business here we had lots of contacts built up. However in that span of time we did branch off and do some other things such as utility easements, and environmental services, but they really weren’t things we “attacked” when the housing market went away. I’d like to actively pursue some other avenues and am currently looking into wetland delineation as one of these. I’ve also heard that asset management for GIS is another good diversification method not solely tied to the market. I’m looking into these, but are other ways that a typical “boundary surveyor” can diversify their business into markets not tied to growth and construction? Thanks in advance.
Log in to reply.