It sure is noble to dream big. However, your startup business needs this laser focus to get the attention of investors and the market. Apple already did it through their computers, Google on their search engines and Wal-Mart through their extra low prices. Here are six reasons why you need to keep it simple at the beginning.
The time to market is crucial.
It takes a lot of time building products and processes to capitalize with a comprehensive strategy. And in the meantime, your competitors will always be there to steal your customers and seize business opportunities.
Keep infrastructure cost low.
A business requires basic infrastructure, equipment and development costs. An attempt to realize the big dream globally will cost a lot of money. Earning more money can be difficult, but it isn’t as hard as creating a huge infrastructure and perfecting it for the first time.
The theory of unifying everything and bloated products will not let you quickly adapt to the different mistakes and market changes made.
The key to success is market leadership in the in the industry. It is pretty easy to see that pushing more services and products dilutes attention and focus. Market leadership is not something you do one time—it just means innovating your products so you don’t get left behind.
Quality is key.
When you do things in parallel, it becomes harder to maintain product quality. Consumers are fickle minded and high quality customer service is hard even when you have a focused product.
Your personal bandwidth may be limited.
If things are too complex and messy, most people get too tired, disillusioned and tend to give up. You need focus to communicate, manage and get things done right away.
And just like everything, there will always be two sides in a coin. And when appropriately applied, this focus will definitely yield rewards exceeding expectations.