Why Smart Companies Focus On Their Core
Growing a business is all about periodically getting more and more people interested in what you’re doing. In essence, it means expanding your network and increasing the number of individuals who engage with your product.
At the start of your entrepreneurial journey, your business was probably very simple. You had limited finance, and so you focused on the bare essentials, offering value wherever possible. Fast forward a couple of years, and you soon noticed that your business was getting a lot more complicated. You had contracts coming out of your ears, managing people was taking up most of your time, and there were a million activities, besides building products your company was engaged in.
If this sounds familiar, you’re not alone. Most businesses start out on the right foot, building on their “core competencies,” but before long, they find themselves being dragged in all sorts of directions, from digital marketing to employee relations.
Ultimately, this is counterproductive to the business itself. With so many resources devoted to tasks other than those unique to the company, the business loses focus and doesn’t deliver in ways customer expect. All that time and energy doing the things which businesses believe the need to do actually ends up cannibalizing their core offering, making them less competitive in the long term.
One of the biggest areas in which companies fall behind is in digital marketing. It’s a complicated business and one that takes a lot of research and knowledge to get right. But there’s no need for companies to do this kind of thing themselves anymore. PPC management from Falcon Digital Marketing is a telling example of how the market is trying to cope with the problem. Companies can have their digital marketing managed for them by people who actually understand the analytics while they get back to work. Though there’s a price to pay, it actually costs less than the wages of getting somebody to do it in-house, and the quality from third party firms is often a lot higher.
Another thing companies are doing is getting rid of their internal recruitment processes. Over the last couple of decades, companies have transformed from creators of skills to harvesters of skills. No longer do they need to manage and grow their own productivity labor force: instead, they can get a recruitment company to find the people they need with the skills for them. Again, the costs of these services are high, but they’re often able to do it much cheaper and faster than the company could itself.
Just think about how much more simple your operation would be is if all you did was focus on your core area of expertise. Though you’d have more outgoings to third party companies, you’d have fewer employees, departments, and distractions. Your business would finally be able to focus on just one thing, potentially helping it to get products to market quicker and win more customers.
Knowing what to outsource in a business can be a learning curve. But the more you delegate to quality people, the more work your business will get done.