Start building your business better today with these lessons, excerpted from “Ruthless Focus: How to Use Key Core Strategies to Grow Your Business” by Wally Bock and Tom Hall.
1. You need a core strategy. It should follow four key factors:
- It should be simple and understandable.
- It should fit your organization.
- It should work in the competitive environment.
- It should be profitable.
2. Ruthlessly focus on the core strategy. Don’t divide your attention among several strategies. Ruthless focus makes you devote resources to the most important activities and makes you concentrate your brain power on improving.
3. Never stop finding ways to do tasks better. Instead of trying to think of the next great strategy, spend your energy and creativity on making the business better. The idea is that a core strategy will help you put your energy and resources into continually improving your business.
4. Use it until it doesn’t work anymore. When something works, it doesn’t get much better by changing it fundamentally. Don’t lose heart if you don’t have a working strategy yet. AriZona iced tea creators John Ferolito and Don Vultaggio went from idea to idea for 30 years before focusing on making “New Age” drinks.
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Thomas Hall has advised clients on growth as well as growing companies himself. Hall founded and sold the largest advertising education in the country. Wally Bock is a writer, speaker and consultant, who specializes in learning and sharing how leadership and strategy combine to create successful companies. For more information, go to www.ruthlessfocus.com.