For firms to survive in these difficult economic circumstances it is important for them to stay ahead of the game and ensure they have a number of interests in a variety of areas.
Those that put all their eggs into one basket could find they come unstuck as a result of declining demand in that particular area. Split business focus throughout a few areas however, and longevity will be easier to manufacture.
Sometimes though, the area in which a firm develops interest is not always the obvious one, as was recently demonstrated in an article in the New York Times entitled 'The Rooftop Garden Climbs Down a Wall'.
The initial focus of the piece is on a firm called Barthelmes Manufacturing Company (BMC), a sheet metal manufacturer that has turned its hand to producing wall brackets for rooftop vegetable patches - the latest craze sweeping city apartment balconies.
While BMC has a lucrative business producing goods for large-scale firms such as United Technologies, it will have benefitted greatly from the exposure and associated online PR generated by appearing in the New York Times.
The company's decision to devout an increasing amount of energy and resources into manufacturing containers for edible walls looks to be a good one, with progressively larger amounts of city folk deciding they too would like a hanging fruit and vegetable patch. Business could well boom, particularly in this time of financial hardship.
The reason being that these vegetable patches are more than simply a food source; they act as insulation for the home thanks to a thick layer of insulation, and thus reduce electricity and heating costs – an attractive proposition at a time when money is tight.
It was the son and daughter of Green Living Technologies – the market leader – that came up with the idea.
Their father, George Irwin, owner of the firm, was installing green roofs and green walls when his kids asked him if they could plant seeds in them. He planted lettuce seeds, which soon sprouted. Since then, both the company and the wider idea have flourished.
While Mr Irwin himself is likely doing well, the concept that he has planted has breathed new life and new business venture prospects into firms such as BMC.
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