Tyrrells CEO David Milner v/s Bulldog boss Simon Duffy - Business strategy discussion at free breakfast briefing
FedEx hosts free breakfast briefing to find solutions
After the euphoria of cutting the ribbon wears off, every SME is faced with the million-pound question: Do we specialise or do we diversify?
Would not putting your eggs in the same basket be a fool-proof strategy or would repeating the same successful formula many times over do the trick?
Historically, both strategies have contributed to handsome profits and healthy balance sheets – but the trick is knowing which is best for your business.
Take a look at Tyrrells crisps:
The products might be made in farms on the Herefordshire countryside but you’d actually find people worldwide in the US, Russia and China munching on these premium crisps, showcasing the extent of its popularity.
Tyrrells success stems from diversification. The range of products doesn’t end at just crisps. A variety of popcorns, nibbles and even tortillas has got its products flying off shelves.
However, in comparison, Bulldog Natural Skincare for men, didn’t take the diversification route to business growth. By focusing on just one core competency this all-male skincare brand has managed to stake a strong claim in a female-dominated market.
From shaving gels and deodorants to moisturisers, it is strictly mens only for Bulldog and its niche expertise has put Bulldog’s products on the shelves of retailers in the UK, US, Sweden, Norway, Australia, Spain, US and Ireland, among others.
So, what is right for your business? Specialisation or diversification?
To debate this issue, FedEx, the world’s largest express transportation company, is organising a free event at the Adam Street Club, London, WC2N 6AA on Wednesday, 30 January 2013 from 08.00 – 09.45 and all are welcome.
This event is a great opportunity for small business owners to map out their strategy for business growth in 2013 – recession or no recession. It aims to provide advice on the best route to take, as well as being a networking opportunity with the wider SME community.
Trevor Hoyle, managing director UK & Ireland Ground Operations FedEx Express and FedEx UK Limited says:
“SMEs are becoming increasingly important in this current climate – helping to drive our economy forward. At FedEx we understand the need to provide support to this growing community and I’m looking forward to hosting this advice session, providing these key players with the expertise needed to grow and take the lead. With such high profile speakers; it is set to be a thought-provoking event.”
The event will see David Milner, CEO of Tyrrells crisps and Simon Duffy, co-founder, Bulldog Natural Skincare for Men discussing the Specialisation v. Diversification debate, sharing advice which drove both to achieve success even when going in opposite directions.
Milner will discuss how diversification helped Tyrrells crisps make its millions and whether producing a range of products, spreads the risk and helps put you in the fast lane for growth.
Speaking about the event, Milner said: “Knowing when to diversify and with which products can be a trial. At Tyrrells, we’ve had great success in this area; beginning with both potato and vegetable crisps and now widening into the premium snack category, including Popcorn, Tortilla Chips and Alternatives. As a result, I am aware of the challenges that this type of change can cause and am delighted to be sharing advice on how to handle these decisions.”
Duffy, on the other hand, will highlight how specialisation got Bulldog exporting to other countries, even when focussing on a very niche area.
“Every SME will face difficulties, which can be particularly tough if you decide to follow a specialised route. I’m looking forward to speaking at this event. It will be good to talk with like-minded people and I hope that sharing my experiences with Bulldog will be helpful context for other people facing similar challenges,” said Simon Duffy, co-founder, Bulldog Natural Skincare.
Date: Wednesday 30th January 2013
Venue: The Adam Street Club, London, WC2N 6AA
Timing: 8am – 9.45am