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How to Pick the Right Opportunities
What staying focused really means for owners
When talking about focus, everyone loves to quote Steve Jobs.
“People think focus means saying yes to the thing you’ve got to focus on.”
But this is only half the message.
His full quote reads:
“People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I’m actually as proud of the things we haven’t done as the things I have done. Innovation is saying no to 1,000 things.”
Stopping at the first sentence misses something quite profound.
Evaluating opportunities is both the secret and weakness of most entrepreneurs. The most successful ones I’ve met are those who played to a consistent theme and relentlessly delivered on it as their product and service portfolios grew.
There will always be countless problems to solve for a nice profit. Expert operators are the ones who can cut through the noise to determine when an attractive opportunity is the right next move vs. a shiny distraction.
They’re also slow to offer new products just because they have the cash lying around or could generate a bit of quick success in doing so.
This week’s post is all about finding your advantage, leaning into it, leaning into it 10x longer and harder than you think you need to, and staying relentlessly focused.
So, let’s get into it.
Finding Your Advantage
I’ll tell you right now, your advantage is likely not what you think it is.
We work with countless owners who tell us “We provide a better service” or “We are the cheapest,” but upon further research that’s rarely the case.
Why the disconnect?
Because there’s often a difference between what we want our advantage to be and what it is. Spend time with your customers—prospective, current, and former; talk with your team; and assess your competition thoroughly to fully understand why you’re winning.
Once you can articulate your unique advantage, you’re ready to focus.
Leaning Into It
By focus, I mean run like hell with the advantage that you have. Even if it seems simple, you’d be surprised at how far staying focused can take you.
Not once has a client of ours overestimated their true market size in the SMB world, so the urge to diversify for growth is rarely based in fact.
In the home services space, I often hear from clients that they win business because they answer the phone.
If that’s the case for you, your focus as an owner should be to devote the time and resources necessary to ensure that you never miss a phone call again. Keep doing that until you never miss any—for any reason.
This is what I mean by leaning into your advantage.
You could also focus on quality and service, but that shouldn’t cause you to start dropping calls. Most customers care a lot less about these ancillary qualities anyway as long as you stay true to your core advantage.
Now, it’s time to lean in 10x longer and harder than you think you need to, staying relentlessly focused and resisting the temptation to branch out for a quick win.
Putting It All Together
Here are your top takeaways from this week’s post.
Companies would perform better if they put their egos aside, found their real advantages, and leaned into them like hell.
Talk with prospective, current, and former customers; meet with your team; and observe your competitors to better understand why you’re winning. That’s how you find your advantage.
No matter how simple your advantage seems, stay relentlessly focused on it. If your advantage is answering the phone, don’t let up until you never miss a call.
Staying focused doesn’t mean missing out on growth. Most SMBs underestimate their market size in the first place.
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‘Til Next Time,
Connor