5 secrets of contract manufacturing longevity

2. Offer something special.

“Make sure you’re offering something special,” Tully said. “You really need to be able to survive the ups and downs of the economic cycle, and in order to do that, you need to have some sort of specialty that you offer.”

There are a lot of niche markets out there, so if two companies make the same product, one must offer something special to stand out.

“If you’re doing the same thing that everyone else is doing, there’s still an awful lot of competition. If you’re doing something that hardly anyone else can do, then you’re not sharing the rest of the marketplace with a whole bunch of other people,” Tully explained. “It makes it easier to survive long-term if you’re one of a few rather than one of many.”

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