What are the key factors in a successful diversification story?

Innovation plays a major role in diversification success stories. Take Apple again. The innovative design and functionality of the iPhone made it a huge success in the mobile phone market, which was very different from the computer market they were originally in. Strategic partnerships can also be important. Disney often partners with other companies for its merchandise or for promoting its theme parks in different regions. This helps in expanding its reach. And financial stability is necessary. A company needs enough capital to invest in new ventures, like Amazon's investment in building up AWS without sacrificing its core business operations.

Apple is also a great example of a successful diversification story. Originally known for its Mac computers, Apple diversified into the music industry with the iPod and iTunes, revolutionizing how people listen to music. Later, it introduced the iPhone, which not only changed the mobile phone market but also led to the creation of a huge app ecosystem. And then came the iPad, further expanding its product range and market share in different sectors.

Innovation is a crucial factor. A company or individual that constantly comes up with new ideas and solutions can stand out. For example, Apple's innovative products like the iPhone changed the mobile phone industry forever.

One key factor is its strong brand image. Starbucks is known worldwide for its high - quality coffee and cozy store atmosphere.

One key factor is the wide range of services AWS offers. For instance, the various storage options like S3 and Glacier that can fit different needs. Another is the scalability. A company can start small and expand rapidly as needed.

Training is essential, especially when new technologies or procedures are involved. In a military deployment, soldiers need to be trained on new equipment. In a business deployment, employees need to be trained on new systems or processes. Without proper training, people may not be able to perform their tasks effectively during the deployment.

Good quality feed is crucial. Goats need a balanced diet for proper growth and health. Another factor is proper shelter. It should protect them from harsh weather. Disease prevention through vaccination is also key.

One of the main factors in Zara's success is its ability to keep up with the ever - changing fashion trends. It doesn't rely on traditional seasonal collections like other brands. Instead, it continuously releases new items. The company also controls most of its production processes, which gives it more flexibility in terms of quantity and speed of production. Moreover, Zara's store locations are carefully chosen, usually in prime high - street or shopping mall locations, which increases its visibility and accessibility to customers.

One key factor is mutual support. Siblings can encourage each other during tough times. For example, if one sibling is having a hard time with a project, the other can offer advice or just moral support. Another factor is competition. In a healthy way, they can compete with each other which drives them to improve. Like in sports, siblings might strive to outperform each other in training, leading to better performance overall.

Innovation is a key factor. For example, Tesla in the tech - related automotive industry. They introduced electric cars with long - range capabilities and self - driving features which were innovative concepts. Another factor is having a great team. A team that has diverse skills, from technical expertise to marketing know - how. Just like in the case of Instagram, the founders' skills in both technology and understanding user trends led to its success. Also, timing matters. For instance, when the market is ready for a new type of product or service, like when the demand for cloud - based storage grew and Dropbox launched at a good time to capitalize on that.