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Taking the Eggs Out of the Basket: Diversify Your Customer Base

You’re likely familiar with the adage, “Don’t put all your eggs in one basket.” In the business world, we adhere to this through customer diversification. In short, it involves making less than 15% of your total sales with a single client, spreading your metaphorical “eggs” into several different “baskets.” However, lacking a diverse and large customer base ...
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Vendor Diversification: Less Risk, More Reward

What happens when your reliable supplier becomes less reliable? When your supply chain experiences natural disasters, economic issues, or political strife, you’re stuck with no stock and a horde of customers expecting their products to come in. Supply chain diversification reduces the risk of your company suffering along with your supplier. It’s not just a ...