Most entrepreneurs, individuals, potential high performers and small business owners spend their lives trying to find the one solution or strategy that is going to be highly lucrative, smooth sailing and make them an ‘overnight success’. From my experience at least, your odds would be better placed buying a lottery ticket.
The reality in practice is that high performance and success in any capacity can only be achieved by being highly strategic in selection, and highly focused in execution. Below are 5 things that will support you to achieve this in the year ahead…
1. Master your Market
Know more about what you do, how and where you do it than anyone else in your space. Observe the masses and do the opposite, the returns that you seek will be found on the fringes.
2. Find a ‘Niche’ and Dominate or find a ‘Wave’ and Surf
Margins are not found by following the mass market. They are found at the unique intersection of multiple expertise or the crest of a wave within a new or emerging market. It is hard enough to build the back office, make sure you are creating it to deliver an easy front of house.
3. Be Highly Strategic
In line with the Property Entrepreneur methodology, ensure that you review what you are doing every year in the autumn of your industry and leveraging the learnings of points 1 and 2, draft a highly defined strategy to achieve market leading levels of advantage.
4. Execution is Everything
Idea’s without execution is not entrepreneurship it’s daydreaming. Do you talk a good game or do you actually get up and walk it? Have clarity on your strategy and then execute relentlessly with whatever it takes to deliver on your target. Don’t get distracted, lock in and deliver.
5. Play the Long Game
As eluded, the grass is rarely greener on the other side; the grass is greenest where you water it. Master your market, be strategic in your analysis then go into an industry or sector that has the scale, the margins and the opportunities you seek and play the long game to take the top spot.
Success and Failure are both very Predictable.
It’s not always how hard you can hit the ball; it’s playing the game long enough that you know how and when to swing. Whilst your peers, competitors and front page headlines are changing direction like the wind, is it time for you to focus and go only an inch wide, but a mile deep? You’re going to work hard anyway this year, be highly strategic to ensure that you get a reward from it.