As the workforce continues on a trend toward globalization and as competition becomes steeper than ever before, the need for a diversity strategy is transitioning from a “nice to have” to a necessity. Use this brief guide to help you unpack the four types of diversification and the strategies that align with each one.
“Investing in your Success”
Diversification is a buzzword that’s often thrown around as the secret sauce to success in your business. Still, truth be told, many of us may not have a deep understanding of what diversification actually entails and why it even matters. Let’s unpack what it means to diversify your business and get maximum returns on your investment in your business.
There are plenty of reasons for green industry business owners to diversify their businesses: from the need for new revenue streams to gaining recurring revenue or preparation for an eventual successful plan or other exit strategy. Whatever the reason, it makes good business sense to actively pursue growth and adaptation over the life of your business. Whatever your motivation for diversification, there are plenty of ways to tackle this important task. Here are four strategies for diversifying your green-industry business. 1. Expand your services to a new location Diversifying doesn’t […]
Spring-Green Lawn Care is proud to announce its newest Franchise Owner, Scott Hodge of R&H Land Designs, Inc. in San Antonio, TX. Hodge, a long-time business owner in the green industry, is excited to diversify with Spring-Green because he knows it will give him the opportunity to take care of customers over the long run. “The beauty of providing lawn care is that it is recurring,” said Hodge, “So we’re not just building something then walking away. Now we’ll be able to help the customer by maintaining their lawn too.” […]
“If you’re not growing, you’re dying.” This well-worn aphorism has been attributed to seemingly hundreds of figures: poets, actors, business leaders, motivational speakers. While we may never know who first uttered the words, they ring true nonetheless. And they can be applied to personal as well as business growth. Many businesses have learned the hard way that placing faith in one revenue stream can be fatal: Blockbuster Video, for instance, ignored the signs that streaming was the way of the future — signs Netflix capitalized on — and their brick-and-mortar […]
Where there’s a will, there’s a way. If you want to increase your revenue into the late fall and winter months, you can include add-on services to your lawn care, landscape or pest control company. Not only can you keep business rolling throughout the year, but you can transform your company from a seasonal business to a four season business – where you’re adding value to your current customers’ properties. You can start marketing your new services during the growing season. Add door hangers, post on social media and include […]
As owner of a Green Industry business, you’re always facing business planning and management challenges. From managing projects to making the next sale the list can seem endless. For many, diversification holds the key. Diversification offers many benefits for Green Industry business owners, when done well. Over almost 40 years in business, Spring-Green Lawn Care’s franchise owners have shared their top list of diversification benefits that we share below. Generate reliable recurring vs project revenue No doubt the Green Industry has its ups and downs, depending on what services you offer […]
Background: For over eight years, Mike Valestin has built and run his successful landscaping company in Milwaukee—Valestin Landscape. Problem: Mike built patios on a one and done basis, with at best, the hope of a referral at the end of the job. He wanted not only a change of pace, but to diversify and expand his business. Idea: Mike determined that if he added services that were needed on a recurring basis, he could generate more revenue from his existing customers as well as attract new ones. Solution: “I decided […]
Skeptical about the value in being part of a franchise? Ben Whitehouse, owner of Whitehouse Lawns was, too, until he found himself at a crossroads, unsure of the most profitable way to grow his lawn care business. Whitehouse had built his own successful lawn care and maintenance business in the Charlotte, North Carolina, area, starting from scratch in 1998. After 10 years in business, Whitehouse acquired a competitor’s business, which doubled his revenues and gave him more business in both the commercial and upscale residential markets. Whitehouse knew the lawn […]