For example, a personal coach providing budgeting services, a child toy retailer offering hosting & design services for e-commerce sites, a HR consultant offering social media training and so the list goes on.
It is almost as if the entrepreneur is not fully convinced of their own ability to make the one business model work, therefore wanting to keep other options of potential revenue streams open. Or having to choose and then commit to just one model, they might be concerned of missing out on opportunities, they know they could also deliver and get paid for.
Whatever the reasons, running with a number of unconnected options simultaneously will put an entrepreneur into a tailspin, weakening their power to succeed by not focusing all their attention and impact on one business model.
The companies that grow rapidly and reap the most rewards are the ones with a very clear understanding of their core products and services, knowing exactly which markets they are specializing in.
Once they have created significant market share, they then consider expanding their offerings into existing channels with complementary solutions to the core or broaden the markets they are targeting. Either way it is always with a very clear focus on just the one business model.
For moms in business this is even more important as the demands on your time are already divided between family and business commitments. Therefore trust my recommendation of choosing just one business model that you love and want to grow. Target a minimum of two markets and a maximum of three at a time. Ensure you stick to a specialist selection of core products and services until you have created the market share you need and want.
And then..., watch how your clarity turns into prosperity!
With this wishing you all the best until next time,
Conny Millard
No comments:
Post a Comment