An issue of focus


Why would I want to be focused…?

Economy of resources

  • Spend your time wisely
  • Spend your money wisely

Tempo

  • Making fast decision based on clear goals
  • Limited distractions

Market

  • Defined niche
  • Differentiate yourself
  • Specialist on your product
  • Closer understanding of your niche (both clients and competitors)

Development

  • Somewhat restricted opportunities

Any drawbacks? What can go wrong…?

Missing value generation opportunities

  • Application in different markets (opportunities to engage with adjacent markets in effective ways)
  • New technical developments
  • Changing customer demand

After a while…

  • Getting stuck in the day to day
  • Skills becoming too specialized
  • Satisfaction with status quo

To consider…

Further options to getting value from your idea

  • Licensing outside focus fields
  • Collaborating for technology development
  • Optimizing portfolios for sale/licensing of IP

Managerial considerations

  • Regular reviews of processes and strategies
  • Keep people that challenge your strategic assumptions (or bring them on board)
  • Regular review of market developments

 

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