Why You Should Ignore the "Latest Trends" in Business

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A lot of good questions have been coming into our inbox. Here's one of our favorites: Q: "What are the latest trends in doing a successful business?" A: When it really comes down to it, the "new economy" is the same as the "old economy". There's a lot of hype you should watch out for. A lot of books you see today on Amazon.com's bestseller's list is a rehash of old books and ideas. I believe the only new idea you might find useful is Clayton Christensen's Disruptive Innovation Idea: producing a simpler product to a different crowd. Regarding the old rules, here are the basics -- and you can see it happening in the latest and greatest of today's hottest companies (e.g. Google, Starbucks, Yahoo!, et. al):

Do you attract the right team?

Without the right people, your business means nothing. The more people you can attract that fit your company's values and mission, the greater your chances of success. Sergey Brin and Larry Page didn't build Google; they're people did. Likewise at P&G, HP, and all the other companies you see out there beating the S&P.

Where can your company excel?

When we started our business, we knew we were good at programming; but, excelling in it would take time -- and most likely, prove fruitless. So, we focused on where we believed we could excel, and be "best in the world:" business-driven technology. We see numerous companies today trying to go head-on with companies they can't compete with, and with companies that stomp them on resources. They'll soon find out they can't win. To do well in business, find where you can excel. And more importantly: where you can't.

Why does your business exist?

Money is important, but like what one guru says: it's like water, it's not the point of life. A business that is driven by a purpose beyond money capture extraordinary results; and paradoxically, according to Jim Collins's intensive six-year study, produce higher revenues. [Authors Note: We'd love to help your business. To ask us a question, please contact us.]

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Posted on March 08

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