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April 30, 2014

There is concept known in business circles as an organization’s core competency, which has also been called the hedgehog principle, a very simple idea that has the potential to create drastic impact on both an organization and individuals. Much has made of diversification, spreading risk around, and not putting all of your eggs into the same basket, but there is an alternate argument. By focusing on one, or a small handful, of items/ideas, you are able to devote more of your time, energy, and intellectual capital to this particular issue.

Steve Jobs and Henry Ford are two great examples of businessmen who built, developed, and grew business enterprises based solely on a few products that had been crafted to perfection.

There are many business texts, courses, and individuals that support that idea of diversification, but there are equally powerful allies of a more focused model. At the end of the day it really boils down to what exactly the principle is that you are looking to push forward. As we have discussed recently, brands, brand equity, and the importance of both are only growing in significance.

Let’s look a few ways to help determine what your message should be:

1) What exactly are you trying to accomplish wish your message?

2) Are there actionable steps that you can recommend to users of your information?

3) How does your message/product/service impact people’s lives?

4) Can you deliver your message/product/service to people around the world?

Think about these questions, and start thinking about whether or not diversification or focus is right for you!


From → Discussions

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