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Time to Specialise Your Start-Up?

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Andrew Bull
Time to Specialise Your Start-Up?

Specialism and diversification.


Both are attractive strategies. Diversification call for a wide range of products and service. Specialisation requires that you sell one or two products.

Let's look at a couple of the brands who've specialised.

Google. We'll at least in the beginning, anyway. And we all know that 'Googling' something means, it means searching the internet — and it's this specialist area which has driven the business to fame and fortune.

Dyson. That's right, the company that makes high-tech vacuum cleaners — people recognise the brand for its superior product. When it comes to purchasing time, you can be sure that the Dyson name will spring to mind.

Here's three good reasons to specialise your start-up:


1) Company value. Being the market leader in your specialty area will make you more attractive to investors, thus increasing your market value.


2) Charge more money. Brands that offer one product range or service tend to be able to charge significantly more for what they do.


3) Narrow SEO focus. Rather than having lots of products and services that you're trying to get to the top of Google's search results, you only need to focus on one.

 

This article is an abridged summary, you can read the full article here

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