Spinoff City Even before you start, have a vision of what your business can beget.
Opinions expressed by Entrepreneur contributors are their own.
Focusing on one business idea during startup is common. But isthere a way to plan for any eventual business add-ons and spinoffideas during your startup phase, too?
Absolutely, says John Reddish, managing director of Advent ManagementInternational Ltd., an organizational transition, growth andsuccession consulting firm in Drexel Hill, Pennsylvania. "Newproduct and service development should be part and parcel [of] yourplan," he says. "It's always better to be open to thepossibilities that the idea you're starting with can breedother ideas." So even if you're just starting up, you canstill begin thinking of possible add-ons, tie-ins and sistercompanies that might be good for growth down the line.
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