23 March 2007

Pick your target... please!

Everyday I am amazed at the angst in business. It is prevalent in so many of the companies I talk to. Business leaders are so afraid to lose the current marketshare they have that they can not embrace one critical strategy for success. In order to get the customers/clients that you really want, you must loosen your grip on those that don't quite fit. Set them free and the right ones will come.

For God's sake please pick a target market. When asked who is the primary customer, "everyone" is not an acceptable answer. Yet executives continue to repeat it. Countless case studies show the benefit of owning a market segement... and then replicating that system in another, and another. Do your homework, have a solid plan, don't try to be all things to all people.