In This Chapter
• The importance of focus
• Differentiators and sustainable differentiators
• Surveying the competitive landscape
• Setting viable growth goals
To grow a business, it's critical to understand not only the business sector, but the strengths and weaknesses of the individual business. Whether you offer a service or product line, failure to grasp the core of your business inevitably leads to wasted development effort, ineffective marketing campaigns, an off-target web presence, and, ultimately, dissatisfied customers.
There are two ways that most entrepreneurial businesses are created. They are either birthed by the passion and enthusiasm of the founders, or they're more methodically created based on a perceived market opportunity. Neither is superior and both face the same fundamental business challenge: turning a good idea into a viable and successful business.
Note: Focus. Success in business is all about focus.
To turn an idea into a business, some companies cast a wide net to see if any fish are caught. Many new consultants do this too when they explain their areas of expertise and then add, "but I'll do just about anything that helps pay the bills." That's a bit like walking into a bicycle store just to be surprised when the clerk asks if he can give you a foot massage or offers you a bowl of soup.
Inside The Book