As an entrepreneur, you want to build your business for the long haul. Something that you can build on and expand in any direction you would like to go. Maybe you want to sell cars and be able get into the clothing industry . Selling cars and a clothing line are two very different subjects but, you want to make sure that you can go in any direction you want, right? How do you secure that possibilities without being known as just the car guy or just the clothing line person? The answer is simple but, takes much more time to master than simply focusing on one specific thing. Build a brand. Build a brand around something that can be molded in many different directions at any time without being stuck as that brand that only sells t-shirts. You don’t want to end up like Daniel Radcliffe still trying to get out of the role of Harry Potter.
How do you build a brand that lets you dive into any niche and subject that you want? You need to build your brand around something that can go into any direction. This could be you (like building your brand around your name) or simply the name of your company that caters to several niches. This approach will take a lot more resources to get off of the ground. One way is to hire people who are the best in each subject. You can’t focus all of your energy into several different directions at once. You would simply be half-assing it if you did that. You need to be able to get really good at several things. This way you wont become one of those guys. Try to not define your niche as much. Some companies advertise the niche they are going after because that is what helps them get their name out there. Not defining your niche will help you not make people think that you are only ever going to be that one company that only does that one thing. Building your brand around your name can make it easier to move into different fields. Allowing your business to move into different markets, helps diversify your business. This allows your business to have more than one income stream, helping your business to be around even after you are gone.