Do you have tunnel vision or funnel vision?
Three Types Of Business Owners & Managers
In my experience there are three types of business managers (in large or small businesses):
Those managers and businesses who focus inward on their own business and carry on expecting business to be the same tomorrow as it is today and was yesterday.
They have have embraced some level of spirit for continuous improvement but initiatives are based on making what they do even better.
While it is important to keep an eye on competitors, imitating everything they do just leads to customers seeing the product or service more and more as a commodity where the key factor is price.
I have always thought that selling a "me too" product is an extremely hard way to earn a living.
- Your own buying experiences for other products and services.
- Reading business improvement books and the biographies of successful entrepreneurs
- Talking to an independent business advisor - there experience of other businesses and their fresh eyes are two big advantages.
From a business strategy perspective, it is not uncommon to see type1 and type 2 businesses stuck in a competitive stalemate - either following the traditional industry recipe for success (or paradigm to use Business School language) and by failing to make sustainable differentiation.
Tunnel Vision & Funnel Vision
Are you ready to start learning?
Or do you already practice Funnel Vision and you've experienced the benefits. I'd love to read your stories of success.
Don't miss the opportunity to download a free 35 page Jay Abraham PDF called the Windfall Profits Paradox