Diversification is about building new products and services, exploring new markets, and as important; taking some risks. There are many reasons why companies diversify. The idea has been played well in the financial marketplace. If one particular investment doesn’t work out, you have a portfolio backup to keep you going. I have seen this in many cases among private businesses. As a whole, business can be unpredictable and flavors of the month can influence what goes on or not. The primary reason for diversification is to broaden opportunities on a larger canvas.
There are types of business categories that have not diversified and the result is they no longer exist. VHS video rental stores, both mom and pop, and the biggies like Blockbuster are all gone. Kodak cameras…long gone. And today anyone with a smart phone can take photos and modify them with two thumbs. Technology is all well and good, but nothing beats efficient, clear thinking. Every business must prepare for change. Our business shifted to diversification not only to prevent our own obsolescence, but for an entirely different reason: “Stability.”
Yes, Diversification is Stabilization
No that’s not double talk! In our business position at Atlantic Coast Fulfillment stability is the number one reason we attract and keep customers. More and more customers across business categories have a growing desire to have us handle projects in their entirety. Long ago we transitioned from “pick and pack,” to a solutions business. The growing sophistication of promotions in retail, cosmetics, pharmaceuticals, insurance, healthcare…you name it, have gone beyond being detailed; they often want their products and materials combined into finished packages in ways that have not yet been engineered or figured out. That’s where we commit to making things happen: diversification on the spot. In other words, the ability to be flexible for the customer, to solve their problem, often on the fly, at the spur of the moment, that’s what creates stability–getting it done every time!
We can and have diversified our processes and methods in amazingly short timeframes. Over twenty years of addressing unique challenges has reinforced our business DNA: continue to be our best for our customers, for our industry, and for our own improvement. We intimately know what our people and processes can do—in reality what no spec sheet alone could ever completely convey. In our line of work there is always human expertise, an ability to think and figure things out efficiently in order to complete the customer requirement. At Atlantic, that’s what diversification really means.
Over the years we have provided solutions and technical support to some of the highest profile companies throughout the business landscape, and our expertise is the reason why. When you need solutions we are “The Specialists,” a title we earned from our customers. As always I would be happy to discuss any related matters with you. I’m a phone call away.