Diversification: Capitalizing on New Business Opportunities

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Contact: Professional Designations Helpline
designations@nahb.org
(800) 368-5242 ext. 8154

Revised in 2020, this course will help you identify opportunities to build and diversify your business. This course examines more than 25 different opportunities within the construction industry that are ideal for expansion. Explore the different approaches and options diversification allows including commercial building, remodeling, special use structures and institutional projects. You’ll analyze the factors that affect success in diversification and learn the due diligence steps to take when preparing to diversify.

Participants in this course will be able to:

  • Define the concept of diversification and identify its related benefits and risks
  • Identify types of businesses that provide diversification opportunities for builders, remodelers, residential contractors and small commercial contractors
  • Consider aspects of each diversification opportunity before selecting it as a viable option
  • Determine whether diversification is a desirable option
  • Identify due diligence that should be performed once an area of diversification is chosen

Who Should Take this Course?

This course is intended for: small volume builders, custom builders, remodelers, contractors and potentially trade partners who are looking to expand their business opportunities and add multiple income streams to their primary business.

In addition, it is highly recommended that anyone considering diversification should be on solid footing with their primary business as the time and investment of starting a new one is significant.

NAHB Designations

This course is required for the following NAHB designations: GMB and GMR.

This course provides six hours of continuing education credits for these NAHB designations: CAPS, CGA, CGB, CGP, CGR, CMP, CSP, GMB, GMR, Master CGP, Master CSP, and MIRM.

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