I spoke in 'step 1' about creating a new application for your core strength. How can you apply what you are great at in a different area? If you are a fantastic sales person, what new areas of work can you apply your skills to? Could you be selling something new in an un-thought-of territory for a brand new product, and therefore, increase your area of influence.
The Challenge: What we are good at are also things we are mentally comfortable with. Generally speaking, of course. We keep doing the same thing because that's what we have done the most of. The dilemma of specialization v/s diversification. How much is too much?
The Key: The Apple way! Apple is a tremendous example of creating revolutionary products and business streams around their core strength - Innovation!
3 Practical Ideas:
Look to the future: Sounds obvious, and you will still be surprised how many of us don't. Most often as individuals and businesses we choose to look back at our past to gather data. To know what worked in the past seems like a natural action when deciding what 'could' work in the future. But the challenge of our current times is a different ball game altogether - and the answers don't lie in the past. The past, though not irrelevant, can be misleading. TATA Motors did not not consider Tier 3 cities or the rural market as their primary market. That is, until they came up with the little Nano! The common man's car is selling in the rural market more than anyone ever imagined, including the co.
Establish your True core strength: What are you seriously....fantastically good at? I am a trainer, so I am good at training, could be my answer. When I think deeper I know this is far from the truth. Training is not my core competence - understanding myself and extending that skill to understand others is my real strength. And I work mighty hard on it. So, what's your core strength - is it selling, speaking, treating patients, researching, designing? Or is it a deeper strength that enables you to do all the above and holds the promise of diversification, of extending your reach, of creating a business you never thought possible. I wrote a book because that seemed a natural extension of my core skill, not as tough as you might think because I had already worked on the raw material for fifteen years.
Be creative not competitive: When I experience someone interrupting another, so their point can be heard better, I am reminded of a beautiful thing I read long back. A participant wrote in their feedback - 'I stopped taking notes because if my point is worth anything it will survive the conversation and I will remember it.' What a great example of being creative and not competitive. What do you truly, and from your heart, want to have, do, and be irrespective of others around? Revolutionary streams of business and doing what hundred other businesses are doing don't go hand in hand. What unique combination of you as a person, your core strength, your idea, and your initiative can you bring to the table? That - if you can pull it off - is magic!
Revolutionary streams of business are not so revolutionary if you think about it. They are a natural evolution of your core strength polished to perfection.
Coming up next: Step 5: Treat your department as your own business venture
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