Last post we talked about the danger of the number one when it comes to the individual, but more importantly to business. One being the ultimate gamble when it comes to product, services and key employees.
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The way to measure that is like this: if more than 10% to 20% of your income is dependent upon any one product, service or employee, you’re on your way to disaster.
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So what is the way to think and act in this? Learn to love the words multiple or diversity. Multiple sources of income, multiple products and services. Multiple employees that bring in diverse incomes within a variety of means.
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Now think of diverse ways of getting more customers and diverse ways of marketing with a variety of tools.
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Do you want to know who the ones that are most vulnerable to this type of advice and strategy? Those who are making a lot of money right now. It is always that way. What is working now is thought to be an endless supply and source that won’t go away. Wrong!
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I’ve owned and operated a number of businesses over a period of 30 years and the most common reason I have seen colleagues fall by the way is that they are addicted to one thing and one way of doing things because it’s working now.
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The key to remember right here and right now is that we are entering into a endless maze of segmentation among consumers. There is no longer any one way to reach a so-called demographic any longer.
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As a matter of fact, one person within a demographic may want to be reached in four different ways through various devices they use to communicate or interact with.
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So even more than ever we need to drop the word one, not only from our business vocabulary but from our business operations.
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