In an ideal world, the marriage between a firm and its favored markets would last forever. However, in the real business world, sometimes large-scale changes are needed.
It might be that the phone has stopped ringing due to an economic downturn in that sector. It might be a new development that changes the competitive landscape. It might be that the market is the same, but it’s your firm that’s changing.
Jettisoning an entire market sector is not a light decision. It’s one that should be made only after a clear analysis, including external data gathering from clients and prospects. That said, sometimes, the soul searching required to change course is necessary. In this Friedman File, we look at two examples of when “goodbye” was the right move.
When transportation planning firm Nelson/Nygaard (San Francisco, CA) was getting started in the early 1990s, the rural public transit […]