Win on 1 of 3, Lose if You Try To Do More

No one can be the best at everything... obviously. If you think about it, no one can be the best in the world at more than one thing. Well maybe someone is, but I have yet to hear about it.

A business entity is just like a human entity, it can only be the best at one thing. So why do businesses try to be all things to all people? Probably because it seems like the right thing to do. But it isn't.

In my experience, when it comes to a company it can only differentiate on one of three things. Quality, Price or Convenience. Pick one and dominate it. Try to do all three better than anyone else and stick a fork in you, your done.

A classic example is McDonalds. Clearly they differentiate on Convenience. It is important to note that they don't ignore Price or Quality. But they surely don't lead in Price or Quality. McDonald's definitely does not have the best Quality burgers (any local diner will serve you a better tasting burger) nor do they have the best Prices (you can go to the local supermarket and buy 6 frozen burgers for the cost of a BigMac). McDonalds is Convenient though and they lead in that category. You can get a burger within 30 seconds of walking into the place. Actually you and I judge them some much by convenience that if it takes 2 minutes to get a burger - we're pissed.

Could you imagine McDonald's giving up their lead in Convenience by offering better Quality (maybe they could cook your burger to order. Medium rare?) or if they become the Price leader (you cook your own burger, but it only costs $0.20). Nope they would fail. But with their exclusive near manic focus on Convenience, they maintain a lead.

Examples are all around us. Walmart - Price Lead, Virigin Atlantic - Quality, Home-Depot - Convenience, SouthWest Airlines - Price, the list goes on and on.

As you build your business, which is the 1 you will chose to lead with. If you are committed to just one and do everything you can to foster it, you will win. If you try to lead on all three, you are in trouble.

The final thought: Every decision you make must always foster your lead differentiator (Quality or Price or Convenience). When you Lead with 1 (and pay attention to the others) ...you are on your path to a successful launch!