Everything big started out small and focused.
Iam’s Pet Food focused on a small segment of pet owners who valued highly nutritious food. And was then sold to P&G for several billion dollars.
Many times, a seemingly small market becomes more than enough. Members of a small market are easy to find and market to. It’s easy to understand their unique needs. It’s more efficient to serve them as they have similar jobs that they are trying to get done. And new growth engines are more apparent because you can clearly identify more important jobs that aren’t getting done to your segment’s satisfaction.
But all too often, companies begin to expand past their core market. And the resulting growth creates complexity. And complexity eats away at your margin (and your quality of life).
Imagine what your business would look like if you focused on your most satisfied and most profitable customer segment.
Do you have a Big Strategy?
Our three-minute Big Strategy Assessment is designed to get you thinking. To get your team talking. To begin to answer the question “How do we create better growth?” Take it here and get the conversation going.