You are not the best at everything you do. That goes for you, the individual, and your company. Nobody is the best at everything. A lucky few are the best at one single thing.
Successful companies know that. They accept that they cannot be all things to all people. Their strategy and decision making centers around the fact that they are really good at one or two things, and that those one or two things are the reason people choose to purchase from them.
Most small business owners run from this advice. They want to be good at everything. They want to serve every single customer need better than the competition. The problem is, when you try to do that, you end up being average at everything, and exceptional at nothing. You end up just like any other mediocre business, with mediocre success.
You try to match the low prices of your lowest priced competitor. And at the same time you try to match the quality of your highest-quality competitor. It’s not going to work.
Instead, the key to success is to narrow your focus. Start today by identifying the one thing that you can do better than anyone else. That’s what makes your company special. That’s what separates you from your competition. Keep your focus there, building it into every strategic decision you have to make.
- Walmart doesn’t have the highest-quality products. But it has the lowest prices.
- Apple doesn’t have the lowest prices. But they have the coolest products.
- TD Bank is not just like every other bank. They have the most convenient hours.
To build a successful brand, focus is critical. Know what you’re good at, and use that to your advantage.