Successful Companies Keep Focus on Their Core Business
This is the latest in our CEO, Edwin Miller’s, series of articles around his observations of 9 principles, employed by successful companies.
We continue to count down the Google Principles. We have covered Google Principles:
- #9 – Birds of a Feather, Flock Together – Recruiting the Best and Brightest
- #8 – Build a Profitable Business Model – Personally and Professionally
- #7 – Value Proposition – Keep it Super Simple
We are now discussing #6 – Focus, Focus, Focus.
Google’s search business was and is still its core business. Their advertising business, based on the search engine, is what made Google a very profitable business. This focus has allowed them to invest in other areas and eventually become the company, Alphabet. All of their investments are tied to a strategic plan to create a complementary portfolio of offerings.
As mentioned in Google Principle #7, during the early days of the web, the craze was for portals to have search functionality AND create content to keep eyeballs within their control. During this time, Google remained focused. This is not to say that we should not test new capabilities or markets. At this time, they were testing an enterprise sales effort to offer their search platform as a behind the firewall or on-premise capability. They were well ahead of their time trying to deliver their capability not just in the cloud, but on a private network.
As our businesses have core competencies and a business model, we also need to focus on individuals. We all have strengths and weaknesses. We are often told to improve on our shortcomings versus focus on our strengths and doing what we do well at a higher level. This is so important for us to understand as individuals. There is an assessment created by research performed by Gallup, that will inform us of our top genetic strengths. I encourage everyone to understand this study and learn more about yourselves, as I have found it very helpful. When we stray from our core competencies or strengths as a person or a business, we create risk in our being successful.
Here at The Intersect Group, we are a staffing business. We do not sell software or consulting services; we source exceptional talent for our clients. Focusing on our business model and adding value through differentiation is key for our future success and creating a higher growth business. Our near-term approach to drive differentiation will be in the business intelligence space and creating a data-driven staffing business model. We will make investments and test the ROI with real rigor.
During this tough season, we are all experiencing, I encourage everyone to Focus on the little things. Focus on improving yourselves with training. Focus on creating a flywheel effect in your own business model.