Ask anyone what business they are in and chances are they’ll give you a myopic answer. They haven’t really thought it through or they don’t really know.
Starbucks Coffee – no, social facilitation, everyday indulgence
Coke Beverages – no, distribution of hydration
Amazon Books – no, virtual distribution
Nokia know this, they are ‘connecting people’. We need to define our start up in terms of consumer utility, not what we sell.
The most important article on marketing, business and entrepreneurship ever written is here. The Marketing Myopia.
Sure, there is a fine balance between single mindedness and over diversification, but sometimes it’s better to diversify than die.