Launching a product or service to capitalise on a gap in the market is straight out of the syllabus of an MBA, it’s business 101. But it rarely works.
Because ‘why’ is missing.
Your ‘why’, your reason for being speaks louder than any marketing message. If you go after a gap in the market purely to capitalise on that, unrelated to your ‘why’ the market generally sees it for what it is, a cynical market play to gain share.
But when you launch a product or service that speaks directly to your ‘why’ the market sees it for what it is, another step towards achieving what you were put here to achieve.
(Check out the new financial services company we have just launched for doctors, MedCapital. My ‘why’ is that I believe that anything’s possible, that any individual or organisation can be exceptional, and that exceptional people change the world. You be the judge on whether this is a big step towards realising the vision I had when I created MedRecruit back in 2006.)
In life, if you can’t win, change the rules.
There are two lessons that are relevant to life that have really struck me:
Siri wasn’t created by Apple.
How often are you getting out of the weeds to look at your business? Weekly? Monthly? Quarterly? Yearly?
I was spending time with a friend recently who has built a huge multi-national business. We were talking about life and business, and then we got on to health and he said something very interesting…
This week I attended Peter Diamandis’ technology event, Abundance 360.
As 2017 draws to a close, 2018 offers up unlimited opportunity for each of us.
When it comes to your business, what’s more important, revenue or profit?
I run a course called Board of Directors. Business owners join me for two days every three months and we go deep on their businesses, and their own personal psychology.