Diversification can improve your current business. This is especially true regarding investments, which is a great frame of reference for understanding the importance of diversification. If 2020 has taught us anything, it’s that life is unpredictable, and anything is possible. The best way to protect your business is to ensure that your success is not dependent upon one revenue stream – aka: diversification. Let’s explore some of the benefits of diversifying your business: Minimizing the effects of market volatility – Market volatility is unavoidable, but it doesn’t have to be unbearable. By diversifying your business, you reduce the overall risk that comes with market fluctuations. A boost in confidence knowing your business is […]
“Investing in your Success”
The family-owned business is the ultimate American dream for many. Yes, there are certainly tough times, but so much pride and a sense of accomplishment when successes are reached. However, there is no guarantee that your family-owned business will be successful and endure for the long haul. The often-quoted statistic about the family-owned business is that “90% of family businesses will not make it to the 3rd generation.” Spring-Green’s ongoing support and dedicated business consultants work with business owners to keep them from falling under that statistic. Whether you are the family member taking over your family’s business or an outside entrepreneur […]
In the business world, terms are often tossed around in meetings and discussions with little context or that lack deep understanding. Some of these terms even rise to the level of “buzzwords” without an outline of what they mean or how they function in real life. As business leaders, we may find ourselves wanting to drill down on terms to ensure that our understanding is accurate, and our knowledge base is working for our business objectives. […]
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.
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 […]