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TO DIVERSIFY, OR NOT TO DIVERSIFY?

That is the question many business owners have asked themselves during the COVID-19 (coronavirus) pandemic. While some businesses have developed strategies in an emergency response to help endure an economic storm, others have made important planned changes to their business as business processes have been completely transformed.

DO I DIVERSIFY PERMANENTLY?

So the question is – Do I diversify permanently, or not to diversify permanently?

This pandemic is forcing businesses to become more alert to new ways of keeping afloat; businesses that have diversified have now been exposed to new markets they may not have otherwise considered. And as business owners, though many of us are small operators, we need to evaluate how feasible, in terms of cost, operational capacity and lead generation it may be to remain with our current format.