Multiple sites, single user base?

I am looking to modify my site so that my two client groups (who share some, but not all, characteristics) can select their appropriate menu item, and then browse menus and articles targeted to them.

Specifically, I wish to serve private and enterprise users separately, with _some_ similar content for services that are of interest to both.

I see how I can do this with clever use of taxonomies and the submenutree module and would like to know if I am headed on the right path, or if there is another canonical/well-tried way to handle this?

Thank you,