We want to seize every opportunity that comes our way. Sometimes we’re afraid of missing out on something big. FOMO is real.
Growth, however, requires focus. While we may not put all our eggs in one basket, we don’t have enough eggs to put some in every basket. Our best resources need to be concentrated on our best opportunities to sustain growth.
A classic example of this is when Apple hired back Steve Jobs. Jobs immediately realized the company was spread too thin and reduced product offerings. Of course, this created concern because some of what he was cutting was profitable. But he realized that to achieve maximum impact, he needed to cut things to create focus.
Sometimes focus comes in product offerings, but often simply stratifying the customer base can lead to profitable focus. We have walked several of our clients through identifying what factors make for their best clients then encouraging them to focus on those best clients. Sometimes they even identify clients they need to fire (typically high-maintenance clients with low to no margin). Obviously, the best clients bring the best margins with the fewest headaches.
The more we can focus our company’s energies on putting first things first, the more room we create for growth.