Throughout my sales and marketing career there has always been a great deal of discussion about target markets, niche markets, and specializing.  Every opportunity was evaluated from the perspective of "fit."  Did it fit in our niche?  Was it in a market sector that would strengthen our portfolio?  Was the pursuit "worth it?"  In fact, in my MBA program, this was one of the golden rules of marketing.  No scatter shot marketing!  Every marketing strategy should be carefully targeted.

I still believe this to be true.  However, the net must be cast quite a bit broader than in the past.  In fact, recently, I have encountered several experts that believe it is wise to not only cast your net wide but in several different bodies of water. 

Because of the market uncertainties, we must view our marketing strategy like an investment portfolio. We must diversify between public and private sector clients.  And, diversify among industries.  AND, diversify our services.  Like investing, our returns may be higher if we invest all of our time, energy, and money in one amazing growth stock, but the risk of that one stock yielding the highest returns is much, much higher than if we diversify among several that may generate high, erratic returns and low predictable returns. 

So, while staying focused, still evaluate your current client list and your target client list from the perspective of diversification.  In this economy, it is about survival just as much as it is about profitability!