Situation: The dynamics of an early-stage business require balance between focus and opportunity. Both are important in a dynamic business environment. The challenge is in the balancing act. When do you focus on the plan, and when do you adjust?

Advice:

• Never allow friends to become statistics. Think of your customers as your friends. Often the most loyal and vocal friends were early adopters and got the company where it is today. They remain important participants in the conversation and should always be in focus.
• When using social media to communicate to your audience, remember that this is a face-to-face conversation. This is a key point of focus. Remove as much friction from online interactions as you can. Make it as easy as possible for people visiting your web site to buy. This requires both live interactions with users and attention to detail. If a question keeps coming up, answer it; put the answer right up front on your web site where it cannot be missed. We’ve all made hundreds of tweaks, each tiny. Each has removed a point of friction. As the company grows it is easy to lose sight of these details. Never lose sight of details.
• Much of what businesses face is transitory. It is important to stay nimble and not get stuck fighting the last skirmish. Early in our business history we found that a subscription service was difficult for institutional users like purchasing departments in schools to understand. We focused on fixing this.
• Be careful not to chase bright shiny objects – opportunities that take you outside your principal market competence. Would you try to modify a hammer to put in screws? One company’s principal product is a communication device for kids with verbal challenges. Some have suggested that it could also be a teaching device. In the future there may be room in the company’s plan for a teaching device, but this will be addressed as its own market and application when the company is large enough to diversify.

Thanks to Phil Bookman of Assistyx for his contribution to this article.

[like]