Leading a small business in today's ever-more-globally competitive world isn't easy...
- Every year buyers demand higher quality, quicker delivery, and lower costs.
- If you don't cut your margins, work longer hours, and ask even more of your employees, then your customers will go to someone else.
- You'd like to get out of this someday, retire, be debt free! But if the potential buyers keep talking to you like you are "just another [X] business" they'll never offer what you deserve.
You probably do all kinds of work right now. It all pays, but some of it doesn't pay enough... but some of it you do damn well. If you could be paid to focus on just that work, you would...
- Increase margins - If you are one of a handful of companies that can do the very specific work the customer needs, then you'll face far less competition and find customers willing to pay a premium.
- Lower cost of sales - Once you've found the right work to focus on, you can concentrate all of your energy and effort on a small number of marketing & sales techniques that work. Furthermore, once you are known as the best at your work, much more free word-of-mouth business will come your way.
You're already working 60+ hours a week. So how can you discover this area of specialization quickly enough?
The Lean Innovation Institute (LI2) trains small business to, among other things, quickly and cheaply discover where they can specialize to make their business more profitable.