Mediocrity isn’t a sudden crash, it creeps in when you start to lose sight of your purpose. It affects every stage of your business, from execution to reputation before finally chipping away at the bottom line.
Too often it is success, not failure that can derail a business.
When business is booming, doors begin to open. Some represent opportunity, while others are merely a distraction. Chase every new market or revenue stream at once and you risk diluting the essence of your firm. This is how a promising business becomes mediocre.
Over half of UK businesses don’t survive beyond the five year mark (ONS).
Those that make it know that growth is about being better, not just bigger.
For example; sales software provider Crank Wheel was constantly asked in sales meetings to turn off certain features. Refocusing development on what the customer actually wanted led to increased revenue growth and a place in Deloitte’s Technology Fast 50.
Doing one thing exceptionally will always be better than doing ten things adequately.
If the ultimate goal is a successful exit strategy, the rush to expand, many end up actually devaluing your offering. If prospects are up but conversions are down, take a step back.
If a door opens, you don’t have to go through it. Keep your focus. Stay in the room.
