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Sunday, October 11, 2009

Ottawa Renovates -- September 2009

We've just published the second issue of Ottawa Renovates, a consumer magazine. The project has proven that you can extend your business beyond its original scope if you think rationally and set up appropriate joint venture agreements and partnerships. The challenge when you stretch yourself away from your core competencies is the risk of cannibalizing your existing resources and (more significantly) diverting your energies on the sideline project.

I think the key to deciding whether to go ahead with a project that stretches you beyond your core competencies is the question of how much of your existing talents and resources support the new business, how relevant it is to learning, adapting and improving for the future, an of course its potential.

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