THE LASER LIGHT VS. THE FLASHLIGHT

Consider the difference between a laser light and a flashlight when thinking about growing your business.

Usually we’re laser focused our product line. We know that each contribution we make to our product line helps to define our brand image among customers. Consistently defining the brand acts as both validation and reaffirmation to our consumer base.

We often hear how important it is to listen to our customers. No argument there! It’s vitally important to listen to our customers, but it’s equally important to listen to our non-customers if we're looking for a broader range of growth.

Common knowledge tells us we want to diversify our investments in order to protect our portfolio from a sudden downturn in a category of investment. The question is, however, are we able to use that philosophy to grow our businesses?

If we consider “not putting all your eggs in one basket” as a smart approach to business then it would be wise to take a walk on the wild side, outside of your product basket. In other words, take the time to wander outside our current customer base for a more diversified approach to our product lines.

Focusing like a laser light on our current customer base means that we often miss the details either side of that laser focus. And my friend, God is in the details. Looking at things with a “flashlight” approach means that even though we can have a narrow focus on our product’s timeline we’re always looking at a broader sector a little further in the future.

You see, creating something new enough to attract a whole new sector of customers seldom comes from maintaining a laser focus your current customer.

Flashlight Innovation comes from asking how can you get new customers because a new style product will invite new customers. We can’t do what we have always done but get exciting new results. It doesn’t work that way.

One last thing…we have to be able to identify our efforts as either a new product in the same old line… or an exciting new line of products.