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!

What is that one thing for you and your company?

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.

 

About Ted Coiné

Ted Coiné is CEO of The Extraordinary Network, a group that is rewriting all the rules of influencer marketing by cutting out agency middlemen to work directly with B2B and luxury brands. Proud “bleeding heart capitalists,” he and his team have built support of a great cause into every for-profit campaign they undertake.

His entire career, Ted has collected fascinating people, most notably other thought leaders who also have a large and loyal audience of large enterprise leaders. He has watched the Wild West that is influencer marketing until he realized an opportunity to fix this broken system, and give influencers the sway they need to move markets together, and to get paid what they’re deserved for this power they bring to bear.

An Inc. Top 100 Speaker and one of Business News Daily’s 15 Twitter Accounts Every Entrepreneur Should Follow, Ranked #1 authority on the Social CEO and #3 in the Future of Work, Ted is also a serial business founder and CEO.

Ted is a Forbes Top 10 Social Media Power Influencer and an Inc. Top 100 Leadership Expert. This stance at the crossroads of social and leadership gave Ted a unique perspective to identify the demise of Industrial Age management and the birth of the Social Age. The result, after five years of trend watching, interviewing and intensive research, is his latest book, A World Gone Social: How Companies Must Adapt to Survive.

He lives in Naples, Florida, with his wife and two daughters.


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