Business verticals

While doing business you can't rely on any product or business model. You should have parallel track of products or model. This will give you relief in slack days of any product. Your building of business should have minimum three pillars of products or verticals. Even though one becomes weak your building never collapse. You will get time to repair that one or you can make other arrangements. Your building maybe your home or business. This funda applies everywhere. Even while designing any product we always keep view of spare part and maintenance provision.
Your other pillars may be your product variant or another product with same technique but different applications.
But you should have plans for the same. Sale and marketing team should be enough to cater all verticals. You have to use the same resources to build that vertical. Then only you can sustain in the market and expand in all directions.
In our company also we are having two verticals of products. One is bike washing machine and other is car washing machine. These two pillars will be supported by various small support of variants. We have opportunity to develop different variations in models as per customer need or customer class. Customers consumption power should be considered while designing variants. After every three years your product should be upgraded technologically and economically. This will give you more market reach than competitors.
#mybikewash #mycarwash #varadom