How do you find the balance between niche industry and specialized skillset employees?
Hey everyone,
I'm currently looking at a company that manufactures metal fixtures with less than common raw materials. The employees have a relatively specialized skillset in the industry. The company has limited competition and services a niche area, but in the event a technician/employee leaves, replacing that individual could be challenging.
How have you all thought about striking the right balance between niche product and specialized labor? Do you shy away from those types of businesses because your revenue generators are going to be harder to replace? Or do you welcome that characteristic because it makes you harder to compete with?