Do You Suffer from the Entrepreneurial Curse?
Do you suffer from the dreaded “Entrepreneurial Curse”?
You’re most likely thinking…”Wait, what is this “Entrepreneurial Curse” you speak of”?
So glad you asked.
The “Entrepreneurial Curse” goes as such…
Trying to be EVERYTHING TO EVERYONE which leads to being NOTHING TO NO ONE. PERIOD (or exclamation point)!
That darn Shiny Object Syndrome where entrepreneurs keep chasing butterflies.
A tremendous blessing for many entrepreneurs includes possessing amazing skills and talents such as creativity, innovation as well as being a true visionary.
Entrepreneurs are idea machines.
Generators of brilliance. Massive problem solvers.
Brainstorming and developing tons of awesome products and services while also creating powerful solutions for all sorts of challenges.
However, sometimes too many.
Expanding and widening the scope of the current menu creates options and choices.
Forks in the road.
For example…
“Our customers LOVE food.”
“We LOVE making food.”
“We will capture MORE customers by giving them more options.”
“Since we make awesome pizza, how about we start selling sushi, BBQ and peanut butter & jelly sandwiches at our pizza shop?”
Shiny objects anyone?
Forks in the road provides choices.
Yet, the inability to select a clear path at the fork either creates distractions or even worse, profit killers.
One leg goes this way, the other leg goes the other way. Interesting visual, right?
Having choices and options are great.
However, the inability to pick the clear path spreads out your time, energy and resources.
Pulling us in different directions.
Ever try chasing two rabbits?
Being too diversified instead of giving everything you’ve got to being the best in a specific area, field, topic, product or solution, slips into the dangerous zone of trying to be “Everything to Everyone”.
Examples of the Entrepreneurial Curse
Let’s explore several additional examples of trying to be everything to everyone.
Lots of “Jack of all trades, master of none.”
For example, let’s say we launch an awesome line of air purifiers.
Who is our target customer?
Anyone who breaths must be our target customer, right?
Probably not!
How about this amazing line of pet products that we sell?
Everyone who owns a pet is our customer, right?
Wrong!
If we just take a shotgun blast approach we should pluck a few customers. Right?
Another example, just to beat the point to death, “We sell soap! Therefore, everyone who has skin is our customer.”
You get the point.
Many manufacturers also struggle horribly with the Entrepreneurial Curse.
Trying to please everyone when we end up pleasing no one.
When asked to describe their Soulmate or ideal customer, they typically respond…
We bend metal for everyone.
We cut steel for anyone.
Sure! We can 3d print anything for any company.
Absolutely! Anyone that needs plastic injection molding is our customer.
Really?
When you talk to them long enough within 15 minutes they will share with you that they serve a specific industry within targeted sector.
They already live in an extremely narrow niche operationally.
The disconnect hits with sales and marketing efforts.
The moral of the story, narrow down the menu.
Unapologetically commit to one thing.
Stay ferociously focused on your solution and giving everything you’ve got leads to dynamic results.
Separates you from the competition.
Creates advantages that your competitors could only dream of doing.
Check this out: Niche Down Til it Hurts…So Good
Warning: You are Entering the “Courageously Uncomfortable” Zone
Wrapping It Up
If you found this information valuable, check out some of our other blogs.
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