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The best companies consider their “core competence” and how they can improve on this income stream before they consider developing a new revenue stream.

It is your core strength that has produced past growth and income and this is where the focus of improved income should start.

After you optimize your current core business and understand the need to continue its development, only then can you create a new stream.

Many companies have enjoyed a strong core business only to think that they are infallible or too smart to fail and can now do anything and not get into trouble.

They then, in this false belief, start to create businesses that are outside of their core competence and the core business ends up neglected.

Circuit City was a company like this and when they moved away from their core competence, electronics entertainment and computers into ventures into the automotive field.

They lost their way and failed themselves into bankruptcy.

Zenith left their core competency (quality televisions and radios) to move into satellite cell phones at a time when low cost cell phone towers eliminated the high priced satellite systems and forced zenith into bankruptcy.

Work on your core competencies, optimize them to the fullest, and then set a great team to manage them before you even think of starting any new venture for your company.

If you are a retail store owner and are thinking of opening a new store in another area, make sure your current store is operating at its fullest efficiency and profitability before you take on the “Start-up” effort in another location.

A laser is at its brightest when it is truly focused.