Yes, but they share the same objective. When I owned my company, I actually ran another business that advertised limos, buses, and other commercial vehicles for sale. (http://limoforsale.com/). That site generated another $10-15K in profit for me per month. It was entirely different than my core business, but it furthered my goals, and my brand. I was operating in the same industry and both sites where symbiotic in their function. Things started to go south (or I should say "stagnate") when I tried to diversify into an entirely different industry that had nothing to do with ground transportation.
I think many people miss this point.
You absolutely can build other products, services, etc. to the SAME vertical you already operate in.
Doing this in 13 different verticals (or hell, even 2) is shooting yourself in the foot before the starter pistol has fired.
I'm going to shout at whoever is listening a SUPER important, often missed point.
Ready?
When you already have thousands of customers, launching a new product or service in your current vertical becomes extraordinarily easy.
Why?
Because you already paid to acquire these customers. The cost of re-marketing to them is virtually 0.
The biggest cost in my business, and in MOST businesses, is what you pay to acquire a customer.
Spread yourself thin, across 5 verticals, and all of a sudden the costs of acquiring customers becomes astronomical.
But do this in one vertical, with multiple products and services, the cost of launching new products decreases significantly.
And now, guess what? I can kill a bad idea with 2 emails to my list. It would take me thousands to test in a new vertical.
So, I guess YOU can tell which way my business is heading next.
I'm excited.
So, will you LISTEN, or continue going down a path of blatant ignorance and start 14 business in 14 verticals.
PS > Read and understand this. It blew my mind: http://www.digitalmarketer.com/customer-value-optimization/