The power of the right focus in your business
A lot of business owners under evaluate or don’t even think about the fact that their success is a result of what they are focusing on and where they directing their business.
Why focus is important for your business?
We all have some limited amount of energy, time & tangible resources.
We are responsible for where to allocate these resources.
Doing it without focus leads to spending a little of our resources on everything which leads to nothing.
Significant changes require significant effort.
It’s hard to achieve something big by doing a lot of different little things.
The consequences of the wrong focus of Nokia
Remember 2005 when everyone had a Nokia phone?
Nokia was crushing it.
But what happened?
Nokia decided to create any possible phone specifications variation.
In 2008 they had about 150 different models.
This year Steve Jobs presented the first iPhone.
In 2015 there were about 5 models of iPhone which were leading the market and Nokia almost didn’t exist.
It’s not about how many choices you’re offering to people — it’s more about how are you solving people’s problems.
The consequences of the wrong focus of Apple
Apple got immediate success with the launch of the first Mac in the lately 80s.
Steve Jobs had an authentic view on the further Apple direction which was contradictive with the Apple board members.
In the 90s Steve Jobs was fired from his CEO role.
The new Apple executives decided to change the Apple strategy and created a lot of different variations of Macs with different colours and specifications.
Apple’s sales started going down significantly.
In lately 90s they got the CEO role back to Steve and the first thing he did was eliminating 90% of the products they’ve been offering.
Apple’s sales raised almost immediately after that.
Steve Jobs knew that power is in focus — not in variety.
The consequences of the wrong focus of Boeing
Boeing started with the purpose to create the best aircraft in the world.
This purpose was driving them to tremendous result.
But one day the new CEO of Boeing decided to focus more on shareholders and changed the main purpose to generate more return for them.
It resulted in an aeroplanes quality decrease which led to a few aeroplane crushes.
Boeing paid a big price for the wrong focus.
The rules of successful business focus
- Less is more — the examples of Apple and Nokia are showing us that.
- What is better for the customers (market) is better for your business — Apple proved that twice, Boeing showed that as well.
- Beware of the consequences of the short-term profit obsession — Boeing learned and showed us the hard way.
For the ecom brands takeaways would be:
- Focus on one thing at a time.
- Focus on the customer more than on the product
- Don’t rush for the short-term gain
More about the right business focus here: