Profit from the Core - Highlignts
Highlights by David Willden
We are conditioned to focus on weaknesses first. Paradoxically, the most successful businesses or parts of businesses are the ones that are most likely to operating furthest below their potential.. Companies that know and focus on their core strengths account for most of the sustained growth companies. Your core business is those products, business models, assets and competencies that you can build upon to gain the greatest competitive advantage.
To compete in the future, companies needed to identify their core business. However, It isn’t enough to say you are “in the car rental business.” Companies are successful because the focus on their distinct market, products & services, and business model through considerable effort. For example, Alamo, Avis and Enterprise are all in the car rental business. Alamo focuses on the leisure market. Avis concentrates on airport rentals, and Enterprise rents to those needing replacement vehicles.
Keys to identifying you company’s core is to identify the most successful products, market focuses, business models, channels, and most importantly your differentiating competencies. The next steps include finding how you can build on and lead in your market focus.