The most difficult decisions you will ever make are the ones where you decide NOT to go ahead. We live in a world full of constraints – there are only 24 hours in a day, the bank is only willing to give you 50% of requested loan, you can only hire 5 employees. The list goes on and on. Given that there is only so much you can do with the limited amount of resources it is imperative that you pick your battles wisely. Decide to fight all the battles and soon you will run out of ammunition.
The companies that are successful today are the ones that decided not to pursue every opportunity. Instead they narrowed their focus on the few and executed with a laser like focus. The most valuable company in the U.S. by market cap – Apple – is famous for focusing on few products and devoting all the resources to make them best of the best. Look at the history of products they have introduced over the years – iPod, iPhone, iPad. All of them rule their category by wiping out their competitors.
Now contrast this with an auto company – GM – that went into deep trouble not too long ago. Before they filed for bankruptcy they had 7 different brands, each with multiple models. You and they too, would be hard press to answer what each brand stood for. Each would compete internally for limited resources, resulting in mediocre performance by each brand. No wonder they suffered such a fate!
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