MARK TWAIN SAID that the wise man keeps all his eggs in one basket—then watches that basket. This can be good advice for the smaller firm: spreading the resources too thin, or trying to please everybody, is likely to end in tears since larger firms can do this effortlessly.
Specializing means cutting out competition—large firms have real trouble in specializing, not because they lack the resources but because they cannot convey a specialist brand message easily: no one will believe that they can specialize in everything.
Young’s Home Brew is a specialist wholesaler dealing only in products ...
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