APE August 2022 | Page 13

Expansion of services may be a good thing

G rowing an asphalt paving business can be a challenge . There are numerous concerns with obtaining and keeping good employees , how best to cope with supply-chain issues , and how best to diversify the services offered with the adding of new capabilities being a key to growth and success today .

By Jeff Winke
Diversification as a business development strategy is when a company develops new products and services or enters new markets beyond its existing ones . The strategy has emerged as contractors want to be a single source for their customers , bringing in additional revenue across different industry segments .
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August 2022