Diversify, diversify, diversify

by BrandingBrief on December 29, 2009 · 0 comments

It’s been a while since I last posted (been busy building a second business – <a href=”http://www.myweddingworkbook.com/lp/wedding-software.html” target=”_blank”>wedding software</a> for engaged couples and <a href=”http://www.myweddingworkbookpro.com/how_it_works.cfm” target=”_blank”>professional wedding planner software</a> for bridal consultants) but I’m back in the saddle and ready to post in 2010.

So, I just started to dive into a true treatise on, of all things, basketball. By the ESPN.com columnist Bill Simmons, it’s aptly titled The Book of Basketball, and it must say it’s very entertaining thus far. There’s one part of the book when he recounts the time when he met Isiah Thomas and the two of them waxed nostalgic about the championship Pistons teams of the late 80s/early 90s. When asked why that team succeeded, Thomas said (and I’m paraphrasing here), “Most teams have 2-3 great players, but if you stop them then they lose. We wanted a team so that we had 8-9 guys all with special talents that you had to stop.”

This got me thinking about how most businesses set themselves up. Most companies hang their hat on one or two attributes, qualities or innovations. While I can appreciate the work involved in coming up with one or two angles or differentiating attributes, in most cases it’s pretty easy to copy one or two attributes. But seven, or nine, or twelve? That’s a whole other level of difficulty (we’re talking Chinese diver levels of difficulty). It also means you have your work cut out for you if you truly want to maintain a market advantage over a long period of time. But isn’t that a great challenge … come up with a dozen ways in which you can set yourself apart from the competition and make your company as bullet-proof as possible? I’m game if you are…

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