Your company, with its collection of talented contributors, could be good at all sorts of stuff – way, way more than any business should ever try to take on. Don’t get sucked in by the unlimited possibilities.
Instead, Do Less Better, as John Bell puts it in his must-read book.
Think about it this way: would you rather found a grocery chain, and sell everything a family might want to eat all week long? Or would you like to make a few video games that people subscribe to and pay you for monthly?
A grocery store makes 1-2 percent profit. And each individual store can employ hundreds of minimum- and low-wage employees. The margin part of this is kind of scary to me, and the employees-as-working-poor makes me uncomfortable for other reasons. You too?
Granted, grocers are necessary, and provide a moral good to their communities. We literally can’t live without them. Video games, we can live without. They’re the definition of a luxury purchase, no matter how much your teen nephew would beg to differ.
But as a business owner? I’ll take the colossal margin of online video gaming every single time. My favorite case study in A World Gone Social, VALVe, is quite possibly the most profitable company per employee of any on earth, including Google, Microsoft, and Apple. That’s something to emulate, if you can.
Of all the things you can do for your prospective customers,
- Pick the one thing that you really want to do…
- That only you can do the best in all the world. And – most importantly…
- That these customers are dying for you to do for them!
Founder + CEO is a commitment to share the adventures and misadventures of our effort to build OPENfor.Business into an industry-transforming market network, in 300 words or less. This is post #3 in that ongoing series. For the previous posts in Founder + CEO, click here.