Every industry has varying niches, competition, market flows and profitability, and depending on the time of the market, different industries will become more profitable than others.
Many people devote their lives to one industry and master the market to become great, but others also take the opportunity to delve into different industries, in the hopes that they will all benefit one another. This art of mastering different industries will open your mind to different opportunities in your business.
This method of approach for your business can help create more value and expand your reach into different markets. An example lies in the use of suppliers and manufacturers. Having ties within an industry that you use as a supplier will help you get cheaper prices and better deals when operating your business with that industry’s products.
Your knowledge of that industry’s market will make your business more predictable, and will help in deciding on changing suppliers and improving product components. Crossing over into different industries will also give you a larger market.
Having her hands in different markets is the reason why Randi Glazer was given the ability to thrive.