Way to Grow

What to Do about the Box You're In

Yesterday I had lunch with a couple who I interviewed more than a year ago for my (yet unpublished) book. They have a photography business that has settled into a comfortable but small and not highly profitable niche. They bemoaned the fact that neither of them are real visionaries, and so they have yet to figure how to grow the business. We talked about several approaches -- expanding into a line of products that use photographic images (calendars, etc.), or moving up the foodchain and working with larger clients with bigger budgets.

Today I came upon a post Seth Godin wrote called Expand the Box. Although his topic was not quite the same as what my friends and I were discussing yesterday, Godin made an interesting assertion: "Thinking outside the box isn't nearly as productive as building a bigger one."

It occurs to me that in order to have a vision, you need to have a purpose. If this couple can settle on what their intention for the business is, it will be easier for them to envision the direction they need to take to get there.

There is a clear advantage to using the momentum you have built over the last 3 or 4 years to expand your box. But if what you really want is something altogether different, don't be afraid to envision yourself in a totally different box.

Stick to Your Knitting -- Or Not?

How important to your success is it to stay focused on your business plan?  When you're starting out, it's essential, not only for the sake of focus and efficiency, but also to help you establish a clear brand in the minds of customers. I remember being puzzled by a restaurant in my town that offered Chinese food, hamburgers and pizza, and advertised a film-processing shop in the restaurant. They were doing too many things, and I couldn't imagine they were doing any of them well.

Are there times when not sticking to your knitting make sense?  Perhaps, yes, if you enter a complementary business that helps your core business grow. Strategy+Business makes this point in a new article by Nicholas Carr, "Complementary Genius". Read how Michelin Guides helped Michelin's rubber business and Intel boosted its business when they introduced the Centrino Wi-Fi chip.

Once your business is on good solid ground, you don't necessarily have to stick to your knitting. Just be clear about how a complementary business would help your core business grow rather than pulling your company in too many directions.