Any manufacturing business that is successful in the current climate must be doing something right. As a result, you and your team probably have some expertise that can be transferred into another market. Usually, such diversifications work best when the new business is not too dissimilar to your current business. The important thing is to weigh up the options. This is best done by carrying out a SWOT analysis. This looks at Strengths, Weaknesses, Opportunities and Threats. It is relatively simple, but really focuses the mind.