What are the benefits of specialization versus an extensive product line?

Many people who are just starting their business begin by offering a wide variety of products and services. It’s an excellent way to determine which products are your most popular, as well as which ones are the most profitable for your business.

You may begin by offering photo engraving, photo frames, and wine bottle etching. Perhaps all three are profitable for you; however, you’re staying so busy with them that you need to specialize. Shift the focus of your business to laser engraving wedding gifts, and you can then sell gift packages offering all three products as a customizable gift set.

Offering a limited selection can be beneficial because it allows you to truly perfect the settings for a certain material. In other words, if you specialize in glass engraving, your results would likely be better than someone who engraves all types of materials.

Additionally, product specialization makes you more time-efficient. Let’s say you are specializing in wine glass engraving for weddings and other events. If you have a selection of 20 different glasses available, you are able to have the files set up and ready to go for each glass.

Type in the text, insert the graphic you want to engrave, and you can begin. By cutting down your setup time, you can decrease the time you have to spend on each project. This can significantly increase your throughput on the laser system.

-Amy Dallman, Epilog Laser