I often discuss the diversification paradox: do we stick with a niches-to-riches strategy, or do we diversify to reduce risk? My challenge is that 95% of our revenue comes from the SBA program. Last week, we woke up to news that Trump's new executive order could bring the SBA—and our business—to its knees. Fortunately, for now, everything is okay. But it’s a stark reminder that everything can change in an instant, and why diversification is so critical.
Hello, Ami! I am for both FOCUS and DIVERSIFICATION. The focus aspect has certainly been your SBA business, just as 3rd Level's focus has been business valuations and sales brokerage. However, we ARE diversifying into five (5) service verticals - and the KEY (for us, at least) is to have solid and capable teams running each service vertical. Happy to discuss more!