Why Trying to Please Every Customer is Slowly Killing Your Company…
Is your company growing as fast you would like? Then stop reading now. I didn’t create this for you. But if you’re thinking, I’d like to grow much faster, keep reading.
It doesn’t matter if you’re in professional services, manufacturing, construction, etc. if you and your team say “we’re a generalist”. We’ve got a serious problem. Since when did being a generalist mean you will succeed? Typically the next question I ask a person is if they’ve had surgery before. You know, Knee Surgery, Eye Surgery, that kinda thing. To which most people respond yes, and I ask them what kind of doctor did they go to? Their family practice doctor or did they go to a Specialist. They laugh when they say of course we went to a specialist.
The simple truth is; unless you’re a specialist in YOUR type of business, you will continue to have slow growth profits to match that. In Michael Porter’s famous Harvard Business Review article “What Is Strategy”, he states that great strategy is all about making the RIGHT trade offs or better said, what NOT to do. Who NOT to please.
Recently Elon Musk the CEO of Tesla came under fire for telling a customer over Twitter that Tesla will never re-manufacture cars and further more substantial hardware/software updates will come out every 18 months that may make their current vehicle relatively obsolete.
This is at the core of great strategy. Tesla will NEVER fail to innovate even if it costs us customers. Period. If you want the best electric vehicle on the road, we’re it. If you are indifferent, you’re likely not our customer.
So my question to you is what or who are you willing to say NO to in order to become great? Need some help discovering this? Let’s talk, my clients are continually refining what and who they say no to. The results speak for themselves. 2X net profit in 90 days and 50%+ growth in “old industries”, you know the low tech stuff that doesn’t necessarily office in Silicon Valley or get a lot of attention from Venture Capital.