Jim Collins’ international best-selling book “Good to Great” contains many helpful ideas for improving your business and in many ways your life also. One concept that sometimes gets lost in the bunch is the notion of ‘1000 things 1% better.’ This idea is not completely new, psychologists have a fancy version of this phenomenon called the “availability heuristic.”
If Only…
Rather than focus too narrowly on one aspect of your business you might keep in mind that success in business is seldom one activity performed 1000% better. This is a conceptual trap that it’s easy to fall into. Have you ever overheard a conversation that sounds something like this? “If we could only secure a spot at the (blank) trade show.” Or, “if only our (blank) was changed, we’d be swamped with new orders!”
Prioritized Success
Instead, you should always clearly focus on important functional strategies that will make the greatest difference to your business success. It could be marketing, client services, new product development, employee training, controlling costs or any number of business improvements that you have assessed as a must do success factor for your business’s survival and growth.
Too Much or Too Little Focus?
Beware of focusing your complete attention on any one area of your venture for too long. Make a list of all of the things that are vital to your success and consult this list from time to time to ensure that you are still on the right track. Working with a business advisor or regularly reading entrepreneurial books, articles and blogs can help broaden your perspective and boost your profitability.
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