Sudhir Moravekar Knows Intrinsic Value Of Business Diversification

In business it is a known fact that you cannot survive in business if you are dealing on only one product

. It can only work if you have a monopoly of that product. In current market scenario there is no company with monopoly, as there are competition in every sectors. Be it Information technology, Hospitality, Insurance or any other service or manufacturing units, there are competitions in every sector. So it is always best to diversify your business for the growth of your business. Sudhir Moravekar, chairman of panoramic group, a first generation entrepreneur has already diversified his business which helped him increase his revenue. Though diversifying is not as easy as it seems coz you need to be sure about the business you are about to undertake under diversification. There have to be thorough research about it and the feasibility of such business.

Started with a real estate business which went to become one of the leading hospitality companies, Sudhir Moravekars Panoramic group has now diversified in to various sectors. His hospitality sectors include hotels and resorts in popular places like Goa, Kerala, Shirdi, Ooty, Kodaikanal, Kaziranga and Karnala. His company even has hotels and resorts in United States of America, New Zealand and Thailand, although most of these hotels /resorts have been recent acquisition by the company. The company went in to diversification when it acquired IT Microsystems Pvt. Limited. It was the first step in to information technology sectors. Currently managed by Panoramic Universal Limited, the company caters to small and midsized companies. The company offers application software development and consulting services for such companies. The company is also a member of National Association of Software and Service Companies (NASSCOM). This diversification proved to be of great advantage, as companys revenue started increasing. Any businessman would love when his company earns good revenue. Same is the case for Mr. Sudhir Moravekar, who has started earned good revenues from the time he diversified his business. He went even further, he diversified again but this time related to hospitality sectors. He started a holiday investment scheme with time share concept. It was nothing new as there were many players in the market with such services. He just had an idea how it worked but to make it work was a difficult task. But with a good work force, he made sure that his Time share concept Magic Holidays started earning good revenue within few years in to the market. Had Mr. Sudhir stuck with just hotels and resorts, it wouldnt have been possible to grow in this rate. It is just because he diversified his business he was able to grow in such enormous pace.

Its not just about Sudhir Moravekar.but how diversifying can be beneficial for you and your business. It is not necessary that diversification is only suitable for big companies, even small companies can diversify and can profit from the available opportunities available in the market. Diversify and be assured to gain more from your business.

by: Adrian Gowels

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