I am currently monitoring a person’s new project venture as they have been happy with the growth of their current project and thought they could do it again with different content per se as they want to see how far they can get. So far they seem to be growing slowly as expected, but it makes you wonder if they will need a new plan.
Think of it like someone who made a successful burger restaurant and now they are thinking of opening a new restaurant that serves pasta with pretty much the exact same business direction. From the restaurant layout to the general dining experience, they feel they can duplicate the burger restaurant’s success with simply a different menu and branding.
You can already see the potential conflict as different markets may want different things in regards to what makes them feel comfortable. Example, for a burger place most people would likely just eat with their hands versus if you are eating pasta you will probably need a different type of utensils and accommodations for your diners.
On the other hand, this idea could work for businesses like an online shop as once you have the basic logistics down it’s mostly a matter of branding and marketing if you decide to literally open up a different type of shop. Example, going from say computers to health care products with a different site. If it is low risk though why not in many ways? Especially if it doesn’t affect your existing business that is working.