How to focus your business for growth
When you're in business if you are not focused every day you can get lost pretty easily. You need to prioritise, you need to focus on the right things at the right time.
Find your niche and focus on it. You can't be everything to everyone. A problem many new companies face is that they are too generalised, they work on so many different things that it is likely difficult to service their clients.
Imagine running a Mechanic, a cafe and an IT place all at once, your hands would be too dirty from all the grease to step foot in the cafe and you would probably spill coffee on a computer every day. But that's just the big stuff, think about a business that has been around for years and years.They might do a lot now but what were they doing the year they started? The businesses that are thriving are the ones that focused on a key area and deliver that exceptionally well to their clients.
What did Google do when it started? It was a search engine, and they were good at it, these days they do so many different things but that core offering is still what everyone thinks of when you say Google. If your one core offering does not bring any value to your customers what makes you think adding other offerings will do anything other than make your job harder.
Refine down your business and where you want to place it, only then should you be diversifying what you do and looking into working in other areas. Make sure your original market is profitable and continues to grow before you being to look at other areas.
What is beautiful about this approach is that it creates a specific task that is both doable and measurable. Having that offering running smoothly makes diversifying far less stressful and far more manageable. While you are busy learning a new market and creating something new and exciting your initial offering keeps paying the bills and prevents you from returning to that panic bubble most startups exist in.