Diversify but first strengthen your core business
I read about it periodically. Large organizations that are well known for their core business but are in completely different industries as well. Some manage it well but a lot of them do not. Why? Well, if you are well grounded in the restaurant industry, does that necessarily help you in running a barber shop?
It's not wrong to want to diversify but keep in mind that each can burn a hole in your bank account if you aren't careful.
Make sure adding an additional business line makes sense to you and that you have the infrastructure to support it.
I am a CPA in San Antonio and provide bookkeeping, payroll, taxes and more. We offer a free initial visit and look forward to serving your business needs.
Richard J. Garcia | 11/19/2011