Insights on Strategic Industry Diversification
Insights on Strategic Industry Diversification
COMPANY INSIGHTS | DECEMBER 10, 2025
image source: Maury Fredricks, IAAPA Expo 2025
I recently attended the themed attraction show in Orlando to research emerging trends and, most importantly, catch up with friends. Our firm has supported the industry through membership in IAAPA and TEA over the last 10+ years.
In addition to show attendance, we have contributed over the years to non-profit organizations benefiting families with children with medical conditions. Give Kids the World Village creates magical moments for children with life-threatening illnesses and their families.
We remain passionate about our work in the entertainment industry. The future is bright for themed attractions. We are grateful for our past work with key clients and look forward to future projects!
Industry diversity is key to consulting growth.
Our early work was focused on furniture and automotive projects. This made perfect sense, since many leading furniture brands and automotive suppliers are based in West Michigan. More importantly than proximity, we share a cultural ethos and fit.
Diversity in our project work has been a key to our success over the turbulent economic downturns since 1984. We entered the consumer products (small appliances, laundry, and kitchen) market along the way to expand our firm's industry diversity.
Fast forward to 1992… after months of persistent outreach, we set up a meeting with a global brand in the theme park industry. Several contacts had migrated to Los Angeles from the Detroit area to grow the engineering group and design studio of this industry brand. I am itching to share names and specifics, but we are bound to total confidentiality in our work! Discretion is everything in our work with every client.
At the time, we were rapidly growing our team while expanding our capabilities. We rationalize the investment required to secure the first project with any new account. I lost count of the travel to and from LA for presentations. My excitement grew with every visit to the account. Our team, however, began to think I was lounging on a beach rather than working hard to secure our first project! I will admit that I spent some time strategizing on a beach towel between meetings!
Our first proposal!
Time raced on, and we were finally invited to present a proposal for an animated vehicle for installation in a new attraction. At the time, we worked on drawing boards using velum, tools, pencils, and pens. We labored furiously over several weeks to develop our proposal, including drawings, renderings, and a comprehensive project proposal.
This work, of course, was commissioned on our "dime" with no guarantee for future business.
We packaged up the work and sent it to LA via two-day delivery. Our timing was horrendous! The savings and loan crisis prompted budget cuts to capital projects, and the project was shelved. On a positive note, we learned a lot working on the proposal and demonstrated our drive to the client. We continued to grow our relationships and stay in touch.
Another decade or so passed as we grew our business with established accounts and teams. In the fall of 2012, we received a phone call from a director with the entertainment brand, inviting us to work on a 30–60-day ideation project for guest seating for a new ride.
This initial, quick project went well, and we were invited to present to a broader, cross-functional team to share our mindset, experience, and capabilities.
Find ways to focus on the opportunities at hand.
Although we were busy with multiple projects, we carved out time to research the company, its processes, and its recent projects. Our team worked hard to assemble a presentation. We decided to minimize travel and patch our team into the presentation via conference call. I traveled, again, to the West Coast to deliver our presentation.
The meeting was booked for 60-90 minutes. We ended up sharing insights and discussing the project over 3-4 hours. Our team in Michigan brought lunch into the meeting while I continued with the client team!
Based on our persistent follow-up and excellent work, we were asked to continue with the seating project and expand our work into the ride interior. The project spanned eighteen months from ideation to delivery of production drawings to the build vendor.
A few key insights:
Do your research into the new industry to determine your best fit for initial projects.
Stay positive and graciously persistent in your communications.
The emergence of AI and technologies is a tempting tool. Nothing will ever replace a well-timed phone call or handwritten note.
Be curious about your clients and their companies. Relationships are key to building a business.
Book presentations far enough in advance to research and prepare curated content for each meeting. You only get one shot.
Stay curious about new industries, companies, experiences, and, most importantly, people.
Construct the "script" for every meeting or presentation as a story with brief chapters for each key component of the narrative. Practice, edit, practice, edit…show up on game day ready to deliver!
Please share your thoughts and comments! We welcome your feedback!
Maury Fredricks
CEO
Fredricks Design, Inc.
