Focus is the Key to a Successful Startup

The definition of a startup means you have very few resources to employ and little time to get them to do something valuable. The clock is always ticking, and the money (if you even have any) is running out by the day. With so little to leverage, you need to make sure that the focus of your company's product offer is as razor sharp as possible.

Don't be all you can be. Be as little as you can be.

Most startup companies fail because they try to be too many things to too many people right from the onset. They think of every possible option they could load into their product offer. While this may give them the feeling of being one of the â??big boys,â?? the grim reality is they are not. In fact by trying to be too many things from the start, these companies often end up delivering no real value at all.

Instead of trying to be all things to all people, try being one thing to all people. Think of PayPal, the highly successful startup that allowed users to e-mail money over the Internet to each other. PayPal could have chosen a million options for their offer. They could have become an on-line credit card company, an auction site, a loan provider and so on. But what made the company successful was their focus on only one offer â?" e-mailing money from one person to the other.

PayPal did one simple thing so well that the industry giant eBay purchased them for $1.5 billion in 2002, even after eBay had already built the same service themselves. PayPal is a great example of a company keeping a sharp focus one doing on thing right even when so many great opportunities could have easily distracted them.

Bite off less than you can chew

Delivering your product to market is an amazing feat to begin with. Even still, a common problem among small companies is their inability to predict what it will take to actually support a product once it has gone to market. Itâ??s easy to conceive complex products with lots of features. But actually bringing that product to market and supporting its use with customers is a whole different story.

Instead of trying to roll out everything and the kitchen sink in your approach to market, just roll out the sink. If you find that you can support your product just fine after itâ??s been successfully selling in the first year, then go ahead and add to it. Itâ??s a lot easier to add features along the way than it is to support features you donâ??t have the resources for to begin with.

You have ten seconds to get it right

Your customer has a life, even if you do not. They are being constantly bombarded with marketing messages from the latest movies releases to the newest type of shampoo. They donâ??t have the time or energy to stop their entire day to focus on just your product. So if you are lucky enough to have ten seconds of their attention, you had better make good use of it. The exercise of developing your value proposition in ten seconds is a great way to distill down your feature set to those items that will get peopleâ??s attention right away. If itâ??s not going to add value to the ten second pitch, itâ??s not critical to your productâ??s success. If you canâ??t get your customerâ??s attention with the one key benefit to your product, the rest of your features will never see the light of day to begin with.

Stay on target gold leader

Your product launch is just the beginning of keeping your focus. Once you have brought your product to market and enjoyed some early success, it may become even harder to stay focused. Now you have customers calling you and recommending (or demanding!) features to be added and services to be provided. All of these distractions make it even harder to keep you and your team focused on a single goal.

Fortunately the process of keeping your resources focused post-launch is entirely the same. You need to pick your battles and allocate your resources toward the few initiatives that will be best served to do the one thing right that is truly driving your company. Serving the needs and whims of every customer sounds great, but it can also be a terrible detour when trying to keep the forward progress of your company moving.

If at any point during your journey youâ??re unsure whether or not youâ??re spending your time and resources effectively, just ask yourself one question, â??Is this driving the core benefit of our product?â??. If the answer is â??yesâ??, youâ??re headed in the right direction.

Wil Schroter is a serial entrepreneur, author, and public speaker. His latest book â??Go Big or Go Homeâ?? will be available in 2005. Connect directly with Wil at wschroter@yahoo.com

____________________

Advertisement: Honest Riches - Click Here!

Advertisement: Lost AdWords - Click Here!

Advertisement: Get $1 Million A Month In Google Pay-Per-Click Ads Free! - Click Here!

Advertisement: Who Loves Money? - Click Here!

Advertisement: SEO Elite, the GrandDaddy of SEO Software - Click Here!

---

Entrepreneurial Traits that Drive Sales

Frequently overlooked and hidden deep within our marketing tool box is the ultimate marketing vehicle for your business ? you! Many small business owners are so busy... Read More

Face The Fear, Ladies

Okay, I'll begin by telling you that I've been divorced for about 5 years, have an amazing family and by anyone's standards, I have a wonderful life.I... Read More

Rx for Falling Corporate Profits

Once again the squeeze is on as renewed inflation worries slow the economy's growth and many companies resort to believing that cost cutting is the best means... Read More

The Risks of Entrepreneurship

The "spark" for many entrepreneurs is seeing an opportunity that doesn't yet exist. Ted Turner, for example, launched CNN because he perceived that people wanted more television... Read More

Compensating for Your Entrepreneurial Style-or Lack of Style

I recently took an entrepreneurial quiz which evaluated my answers and informed me I would do best as a hired hand! So why am I a successful... Read More

Veteran Entrepreneurs Are Growing In Ranks

When I'm not running my own business, writing articles about business, speaking to groups and organizations about business, or consulting with companies who want my advice about... Read More

Cross Polination of Innovations in the Cleaning Industry

According to the latest edition of Pool and Spa news; the costs of maintaining a pool, maintenance service averages about $30.00 to $150 per month depending on... Read More

When Your Business Feels Like an Arranged Marriage

Q. I was laid off six months ago. Jobs in my field are scarce so I moved to a new town to start a home business. People... Read More

How To Grow Your Micro-Business

If you want to grow your micro-business (defined as a business with fewer than five employees), you might consider some of the findings of a survey by... Read More

How To Find Focus And Turn Your Talent Into A Thriving Professional Business

There are tons of books and articles available to help professionals start up their business, but few that give practical insights on how to nurture your business... Read More

Franchises - Emotional Fulfillment - Control Your Destiny

Does A Franchise Meet Your Needs?When you think of becoming a businessperson by making the transition from employee to Franchisee, you don't generally think in terms of... Read More

The Term Sheet?s Role in Raising Venture Capital

Entrepreneurs and companies who are seeking venture capital often negotiate with one or more venture capital firms on a number of important issues. These issues include the... Read More

Reducing the Stress of Being an Entrepreneur

Starting and running your own business can be exciting and rewarding, but it can also be very stressful. For most of our almost 40 year marriage my... Read More

Empathy - Not Business Plans - Key to Your Home Based Business Success - Do You Have Empathy?

EMPATHY is a Natural Talent, you were born with it and you will never loose it. It can be a blessing or a curse in a home... Read More

Why Most CEOs & Entrepreneurs Fail?

Times are tough. The economy is in a constant state of upheaval. Is your company doing better than most? Are you placing greater emphasis on pure performance?If... Read More

16 Vital Traits Shared by All Successful Entrepreneurs

The first step in deciding whether to start a business is to ask yourself this important question: "Do I have what it takes to be an entrepreneur?"... Read More

Oil Change Guys History; Part II

Franchise companies are not born they are made and when studying the history of franchise companies, it is amazing how similar they really are. To continue this... Read More

Franchising Companies Need New Franchisee Checklists

When franchise companies are moving fast in the market place they must pay attention to the details. If a franchisor fails to give the required items as... Read More

Franchises - Emotional Fulfillment - The Challenge

Does A Franchise Meet Your Needs?Do you look forward to Friday afternoon or Monday morning? Perhaps that's the true litmus test of happiness. If you're thinking about... Read More

How To Get More Clients and Customers; Dont Sell Be of Service

Whether you are just starting your business or focusing on growing it, I'm sure you are like most small business owners you are looking for ways to... Read More

An Entrepreneurs Biggest Cost

When launching a new product or company, an entrepreneur must consider their biggest cost - the opportunity cost. Opportunity cost is an economic term that is defined... Read More

Seven Key Qualities of Successful Entrepreneurs

A recent poll conducted by Forbes magazine shows that majority of its readers would prefer to become a billionaire rather than a Nobel peace prize winner, a... Read More

Creativity & Entrepreneurship: The Creative Evolution of an Intellectual Property©

In each of us, there is a creative spark - a unique purpose and destiny for which we are born. Most of us have forgotten what that... Read More

A Startup Never Closes

When it comes to a startup, the luxuries shared with established companies are few and far between. Chief among them is the luxury to close at the... Read More

Profile of Women Leaders

Leadership is based on two words, "pressure and support"and that the leadership is the power to influence people to move in a direction that you believe in... Read More

Oil Change Guys History; Part III

Studying the history of franchise companies is interesting is watching all the ways they grew and all the partnerships, vendors and mergers along the way. It is... Read More