Replies to post #47318 on Mike The Pike Productions Inc (fka MIKP)

[ThurstonHowellThe3rd]

While I agree with you on the changing 'hot topics' with respect to many projects, I think you're missing the whole point in that diversification of revenue streams can help ensure success in an ever-changing economy. You can still keep a focus on your core business along the way.

here are a few good articles on this topic (Google has a ton):

http://topics.forbes.com/revenue+streams/

http://findarticles.com/p/articles/mi_m1365/is_11_34/ai_n6152951/

In the business world, significant changes in economic conditions, buyer preferences, markets, products, and services are the norm. For small businesses to thrive in such an environment, they must be willing to diversify and stretch beyond their core business offerings, particularly if they are accustomed to relying on a single revenue stream.

I think everyone is looking forward to hearing updates on items that seem to have 'fallen' by the wayside, but are really being worked on behind the scenes. It takes time to build a real company.

The share price sucks right now, but volatility also comes with low volume.

News is coming, per Mark. Hang in there...

Thurston

[ctp93]

If you want to succeed in business, do ONE thing VERY well, and then once you have established yourself as the leader in that market (or at least established yourself as a legitimate player), diversification starts to make sense.

Diving into so much diversification from jump street is called scatter-shooting.

I have seen so many epic fails taking that approach in my genre that it is ridiculous.

That being said, a case could be made that my business is incredibly diverse, as we are involved with a multitude of entertainment projects. However, we did not start that way for sure, and in fact the core of my business is still very much what we started as.

I personally believe spreading yourself too think is a big problem for anyone starting up. You never really get a foot hold in ANY of the areas, and you don't produce the highest quality in any one area.

Just my two cents, and I am sure someone can point to a successful venture that started out all over the board. As a successful business owner, I have rarely seen it. I can't think of one actually. I have seen people get their head together and re-focus on one particular area and right their ship, but never seen them continue down so many avenues and still survive.