Diversify your markets and spread your risk

Switch on your tv news, read a newspaper or check out the latest business news online, and much of the talk is about the impact, good and bad, of various global economic and political events. As one marketplace goes up, another comes down, constantly shifting opportunities and risks for the entrepreneur to think about. As a result, it makes sense to spread the risk and diversify our marketing and sales strategies to proactively counter the market movements that we have no control over. It’s the perfect time to revisit existing business strategies, to look critically at where our current active markets are and what the future conditions look like for business. Spread the risk by looking at new markets, perhaps doing some market testing for your products and services, attending one or two events in a new country to really get a feel for the opportunities that might exist there for your business. It’s all about diversification, ensuring that, as the saying goes, not all our eggs are in one basket.