A great tip I got was that business is about finding your niche and focusing. There are great 100 m sprinters such as Carl Lewis or you can be a decathlete like Deli Thompson but a Deli Thompson is never going to beat Carl Lewis at the 100 m sprints.
It’s hard for small businesses to say ‘no’ to a specific direction. At Txtfo we saw that text messaging could be used in pretty much every business – we had no focus. This means that any customer wants anything and we just we for it. This can be expensive to cater for customers.
Where we did start to find some success was when we started to focus. For instance we found a little niche in publishing. This meant that we were able to speak the ‘lingo’ of publishers (language specific to their industry) and also get referrals within the industry. One begins to find their niche and its easier to sell within the industry.
So whether it be geographic (e.g. London), industry (e.g. Publishing), age group or any other type of segment you can find, try to focus and work on monetizing your niche.