The tendency for entrepreneurs with tremendous focus, energy and persistence is a necessary and very useful one in getting a company off the ground and making profits.
However, this tendency can also be destructive in the sense that many entrepreneurs we coach over at Information Marketer’sZone are blinded to the forest by the trees.
FOCUS AND THE BIGGER PICTURE
What I mean is that they see a specific problem, desire or product as the entirety of their business…their sole value to their marketplace when a competitor will step back and take a broader view and then steal their market out from under them because they knew what business they were REALLY in.
Here’s a good example.
Henry Ford understood that he was in the transportation industry and that’s what allowed him to see the opportunity for automobiles when people were still making their way around by horse and buggy.
Microsoft founder Bill Gates understood that Microsoft was in the entertainment and home productivity market NOT the computer market which allowed him to stay many steps ahead of his competitors who saw themselves as only being in the “computer” industry.
So, if you are considering or are already selling an ebook, consulting services, or even your own expertise on the market (as an employee or freelancer for example) – ask yourself what business are you REALLY in?
SECRET TO MASSIVE BUSINESS GROWTH
Take one-step back and you may say, “I am in the information delivery or marketing business”
Great – then ask yourself again…what business are you REALLY in?
Eventually you will arrive at something like “I am in the business of improving my customers lives by getting them better results in X, Y or Z (your market)
Sure, you may have an ebook on losing 10lbs in 30-days that is a great idea and sells like hotcakes, but what can really take your business to the next level is asking “what business am I really in?”
Are you in the “help my customer lose 10lbs in 30 days business or am I in the enhance the look and feel of my customer who are stuck in life and want a way out?”
Think of the opportunities that immediately come to mind in terms of marketing, product strategy and in ways to make a huge profit when you consider the bigger picture.
YOUR TURN…
Now you try it, ask yourself what business you are really in and don’t settle until you reach a powerful enough statement that encompasses the depth of the emotional fulfillment and value you bring to your marketplace.
Leave us a comment and let us know what you come up with.
