Are you trying to be all things to everyone?
Thursday, June 28th, 2007
One of the challenges that start up companies (and sometimes even established companies) face is finding enough clients to sustain business. As a result, they often take on projects that don’t exactly fit their business model, and over time they begin to dilute their core focus. When this happens, they lose effectiveness and their revenue and profits suffer.
Look at some of the examples of companies that have become extremely successful and profitable because of their intense focus in a very particular area of business. UPS was built on the concept of shipping their customer’s packages as quickly and cost effectively as possible. They could have branched out into a number of other businesses relevant to their customers, such as printing services or internet access, but by focusing strictly on their core business model, they (along with Fed Ex and DHL) have become a major competitor to the United States Postal Service. Geek Squad is another example. They don’t set up your entertainment system or repair your microwave. They fix your computer and nothing else.
It’s this kind of focus that allows certain businesses to become ultra-successful while others fail miserably. It allows them to become more knowledgeable, proficient and efficient, and ultimately, more profitable.
If you want your business to become as successful as possible, you’ll need to determine what your core business is and go after it with absolute focus. What ever you do, do it better and faster than your competitors. Make it easier for your clients to work with you. Give them more value for their money. If you do, over time, your company will be known as the go-to expert in your industry.
Posted in Marketing Strategy



