For growing business, It might seem like a great idea to change multiple things at once – expand into new markets, launch new products, and hire more people! 🚀
But here’s the catch: doing too many things at the same time can actually hurt you. 🛑
Let’s say you’re a company selling televisions in India. You decide to:
– Expand into rural markets 🌍
– Launch a new line of smart TVs 📱 in the same market
– Hire more salespeople 🧑💼 to sell these new TVs in the new market
On paper, it looks good. But what if the rural market doesn’t respond well? 🤔 Was it the product? The market? Or maybe the salespeople? With so many changes happening, it’s hard to figure out what went wrong.
Here’s the problem: when you change multiple things at once, you lose visibility. 🔍 You can’t easily pinpoint what worked or didn’t, and that leads to wasted money 💸 and resources.
The wiser way is to send your best salespeople, and best seller smart TV, and pilot in a small new geography. This way, you know that you have put your best resources, and experimented with a new territory. If it does not work, you can iterate on your approach for the market or choose a different market where the combination of your best team+product will work.
Focus on one thing at a time, test it out, then move on to the next. 🎯 This way, you can see what’s driving your success (and what’s holding you back) – and achieve growth without the waste! 🌱