It isn’t unusual to see any number of companies that are all over the place because they haven’t really picked a path for their organization…and instead they are falling for that fallacy that you can end up being all things to everyone.
The challenge is that by choosing one thing, you are making a decision and you are making a path for yourself.
By not picking a clear path or a target audience, you are saying pretty clearly that you don’t really have value for anyone…because you haven’t given yourself the tools that you need to differentiate yourself from other organizations.
This leads to the concept of opportunity cost.
What does opportunity cost mean?
At its simplest, it means that by picking one thing, you can’t pick another.
Which means that in any situation the opportunity cost of doing A is not to be able to do B.
For your business and its ability to generate the revenue that you need to continue growing and moving, that means that you really have to focus and apply priorities to your organization.
You can do this by deciding on 2 things:
1. What is the real, tangible value you want to deliver.
2. Who is your buyer? Not just someone that will be a user.