Diversification is a must for survival. You need to have multiple revenue streams. So that if one stream is facing danger, you have other streams to depend on.
In Tiny Island, we are always looking at new advance technology that has potential to propagate. Technology means nothing without Creativity. We treat Technology like a pencil. By understanding how the technology works, we can creatively create new engaging product.
But R&D in new technology could mean spending indefinitely with no results if not handle with care. This is especially difficult for small companies.
So what we do in Tiny Island is we form alliance with technological and business partners so that we can provide a variety of services which makes us more competitive.
For Example: We team up with consulting agencies who are strong in locating MNC clients. At our end, we use our creativity to push the technology beyond its boundaries with the help of our technological partners. With this, we provide a list of new media solutions. (Stereoscopic 3d, Auto-stereoscopic 3d, AR, VR, MR etc) to our clients. We leverage each others strength and form a strong consortium. Together, we appears to be a much bigger organisation which helps us engage a variety of new businesses and opening new markets.
Many startups die within the first few years. Or many never even reach the sea and stay within the shore. (Keep depending on local market) We started the company with zero external investment till today. Through this strategy, it helps us pull through 10 years and many tough times. Believe it or not, we are now getting outsource work from countries like Vietnam and China even though we are from Singapore (ranked as the most expensive country in the world) You may wonder why. In order to survive, one need to provide a unique service that others cannot provide. Else why should others pay you a premium if all you can provide is what others can already do and even at a cheaper cost than you. Moving to new market is the key.