Im meeting with a potential business partner on Friday to discuss some ideas we’ve been kicking around. There are some great opportunities in the local agricultural industry where I live. It has a lot of growth potential and we have a real mission to help our local farmers. Every step of this supply chain needs to be improved and expanded. Some of those steps are going to be more profitable than others but of course they’re all interdependent. He’s leaning more towards specializing whereas I’m leaning more towards integrating. I worry that our business will be hampered by bottlenecks out of our control. Better to have some control over all the steps in the chain. One step in the chain would be very capital intensive (but maybe the most profitable and the most critical bottleneck) whereas all the other steps would be easy to bootstrap and scale.
How do I go about analyzing whether to specialize in one area (where I see the most potential impact) or to become a one stop shop for everything? What are the different factors that go into that decision?
Thanks for the help.
How do I go about analyzing whether to specialize in one area (where I see the most potential impact) or to become a one stop shop for everything? What are the different factors that go into that decision?
Thanks for the help.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
