Consultant Mark Howell has a tidbit on the power and benefits of strategic partnerships that’s really worth pondering carefully over a nice cup of tea (or a beer, whatever’s your pleasure). Many companies are so eager to grow that they try to be all things to all people, without first having found a way to serve a particular market really well. Mark asks:
Are we better off “ adding on a capability (program or service) in the effort to reach a larger audience” . . . or would we “be better off simply trying to become fantastic in our own niche and find strategic partners in the next niche over . . . .”
What do you think? And what’ll ya have to drink?
Specialize in a niche. The world is getting too complicate and you’re competing globally. You need to own your niche.
Very true, Kim. So many entrepreneurs still try to be “all things to all people” with the result that they’re nothing to anyone. It also makes it more difficult for others to keep the right opportunities in mind for you.