Podcast 13: Focus on Building Value Deep Instead of Wide
As Ofer describes it, the move from big corporate executive to growing an entrepreneurial business leader compares to his history in the navy. Big corporations are like a destroyer – lots of strength, resources, etc., but a lot slower to turn and move. On the flip side, his current entrepreneurial venture is more like the patrol boat – nimble, agile, and easy to pivot.
Key Takeaway: Every new stage of business requires changes. As your business grows, make sure you are focusing on the one thing your business does well and not constantly chasing new markets and new customers. Serve your current customers well – bring new value and dig deep into your market before expanding into new markets.
Focus Deep over Wide – When working with your market, focus on bringing new value and developing your existing market rather than going wide and expanding into new ones.
Make Decisions Quickly – The longer you delay in deciding, the more challenges and problems you’re likely introducing or opportunities you are missing.