Page 86 - Paulisms: Gold Nuggets for Small Business
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Paulism: Focus on the things you know and are good at. Don’t confuse the offering and try and be an expert at everything. Specialise and work on being the best at what you do best. It’s not all about turnover; it’s about the bottom line. Perhaps the bottom line can reach the same goal by saying no to diversification.
3.3.4 The power of saying no
As an entrepreneur, I can walk 100 metres down the street and see 100 opportunities. It is so easy to get distracted, or to get into something that is hard to get out of. It is easy to rush into introducing a new product, for example, without the technical and training base in place or understanding the product and market. You order the stock and away you go, but soon realise that the market is not what you anticipated and the product not doing what you thought in view of market issues. Suddenly you have an expensive exercise on your hands.
