Should your company move into a new business segment?

Is it possible to change from what you are doing now?

Let me give you an example of a story I read recently. The Cintas Corporation who is primarily known for renting uniforms since its founding in 1968 has made some impressive changes to it’s business structure over the past number of years.

They are still delivering freshly pressed garments to their customers, but that constitutes less than half of their business. It has now expanded into restroom products, first aid and safety products as well as document shredding services.

While this has worked well for them so far, I am not sure how diversified a business should be before it begins to lose its way. I only mention that as a precautionary measure. It is my opinion that no matter what type of business you are in, you need to follow your Mission Statement and have a laser-like focus.

Is you business focused on its primary objective?