Specialisation and the Power of Focus
Dart by Asif Akbar
I had an excellent MDHub100 work group today. The work groups I think of as being most like AA for CEOs and MDs. A place where you can relax in the company of trusted peers and share your deepest, darkest issues.
It was attended by Paul Feist from Feist Hedgethorne and Zoe Porteous from Boutique Communications. Most ably facilitated again by Fi Shafer from Omega Blue.
A lot of the conversation was about business specialisation. I was arguing that specialised businesses – those with a niche focus – had a number of advantages:
- Enforced creativity: you have to innovate products and services to maintain a strength and grow revenues in your chosen niche
- Ability to cross-propagate best practice and ideas across clients
- Continually increasing expertise/ knowledge in the area
- Reduction of noise/ thrashing in switching focus between different areas. One industry/ one niche = one focus
- Ability to act as a forum for industry interaction (roundtables/ seminars etc.)
Just Seven Things 