Afraid to cannibalize your business?

Some people are afraid to try something new because of fear it might cannibalize their own business (new product stealing customers from an old product etc).

It’s important to understand if you don’t do it, someone else will.

Afraid that a new hotel might take visitors from your current hotel? Would that be better than another companies new hotel taking your business?

Afraid your new restaurant might take dinners from your other restaurant? Someone else might do the same and might take catering opportunities as well.

It’s ok to split your business between old and new but ideally, you will will grow the entire market rather than splitting it in half.

Just something to think about

Have a great day!

Lawrence

One Response to “Afraid to cannibalize your business?”

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