Tuesday, September 29, 2009

Specialize or Generalize

I am doing more by doing less, which results in doing more. Let me explain and see how this can work for you too.

When I formalized my business, ScLoHo Marketing Solutions, I had a general idea of what I wanted to do with the company.

But it took some refining by knowing my strengths and what areas I wanted to avoid.

However, every once in a while, I get a request to do something outside of my arena which I have been challenged to accept, but I reel myself back in and decide to do what is best for me and the client.

Sometimes that is hiring a freelancer or subcontractor, to do the nitty-gritty. Other times it is referring the work to someone I believe is more qualified.

I have had the pleasure of learning from hundreds of business owners that were trying their very best to be successful and unfortunately unless you specialize you run the risk of losing it all.

Even Walmart specializes. They specialize in low prices. And they have the buying power to do so.

Me, like you, we need to determine what we are good at, and build on our areas of expertise. Build solid relationships with those that are your clients and customers and also build good relationships with those that you decide are not a good fit for you.

One way to ruin your reputation and your business is to over commit and leave a bad taste in someones mouth. And with the spread of social media, that bad taste will spread to others via word of mouth.

Better to be known for what you are good at, than to be known for what you are not good at.

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