Growing your business in the niche – Part VI – identifying your constraints

differentiation, Marketing, Positioning, Product Management, Sales

In part V we spoke about identifying different channels to reach your prospects.

To grow any business you need to identify the one key constraint which could hold you back.

In professional services its your time, in manufactured products its the time of the slowest machine, products which are dependent on natural capacity like farm produce or eggs are dependent on the the capacity of the farm or number of hens respectively.

If you can plan your business based on the constraint – highly recommend reading the Theory of Constraints by Eli Goldiratt and his second book The Goal – then you can take better decisions.

So if you are in professional services, and you can only work 8 hours a day, you need to figure out which is the niche which can help maximize the return on your time. If you’re a property / real estate agent then you need to focus on the segment where you can get a higher value for your listing as in designer homes versus condos.

Or you build partnerships so that your constraint can be a leverage to someone else.

Till next time.

Carpe Diem!!!