Want your tech company to be recession-proof? Diversifying your client base and offering exceptional service can build antifragility into your organization. - antifragile diversification
Diversifying your client base and cultivating a deep commitment to exceptional service can build antifragility into your organization. The strength of your relationships directly impacts the continued viability of your business. Diversification is crucial not only in light of the wide swath the pandemic cut through many niche businesses, but also because a narrow focus adds volatility to a situation already fraught with risk.
This advice flies in the face of the conventional “find your niche” wisdom, but recent events have shown us the dangers of that approach. For example, any software developer focused exclusively on serving the travel sector in 2020 would have seen their business die overnight. Challenges of internal misalignment often plague larger organizations. While we are best known for our engineering and technical work, we have to be ready to act as mediators in more complex companies.
You are likely to find yourself attending to secondary or tertiary goals like improving workplace culture and communication, even though you never explicitly agreed to help them maneuver through such potential minefields.
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