Here are three common mistakes and how to avoid them:
Failing to choose. Attempting to be all things to all
customers is not a winning strategy. Select specific segments of consumers with
particular characteristics that you can serve best.
Acquiring to change playing fields. Acquisition usually just
adds unnecessary complexity. If you cannot strategise in your current environment,
you will not necessarily excel in a different one.
Accepting an existing choice as unchangeable. A company
always has a choice of where in the market they will play, so do not use this as
an excuse for mediocre performance. Change will not happen overnight, but you can
alter the course with focus and dedication.
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