I’m sure you have heard that proverb a lot of times. Many of us take it to mean someone who is doing very different types of businesses at the same time. We are right, but that is not all. There is an aspect to this proverb we often overlook as Entrepreneurs. It is the part where we do not ‘nichify’ our business.
For example, a cook who has a restaurant, and even that restaurant has no specification. Mediterranean meals, African, Italian, Asian, breakfast, brunch, dinner, lunch, tea. He/she is also into Owambe catering, corporate catering, home catering etc. We justify it with ‘ona kan o woja’ – ‘market has many entrances’. It’s wrong. It’s better for people to know you for something than for anything and everything which eventually translates to nothing. It makes you more professional. Does that mean you cannot diversify? Of course not, but make it different arms. Don’t jumble it all together. How do you even want to describe it all on your complimentary card or social media?
What your business is all about must be able to be summarized in a maximum five words sentence.
Bhlue-One is the website design company I run with my husband. We decided to make our focus – WordPress Website Design (what we do is completely explained in only three words). When we wanted to diversify into domain registration and hosting, we created Bhlue-Domains for that. Then when we saw we were getting repeated requests for website maintenance and management, we started Bhlue-Managers.
All are handled and managed separately, yet under the same company. And the reputation and publicity we have already built with Bhlue-One made building and integrating the others easier. We leveraged on our customer goodwill for them.
I’m a baker. I love baking and creating recipes. Cake decorating, not so much. At first I was trying to force myself to go the way of most cake businesses in Nigeria. My husband gently helped me to focus. He asked me ‘what do you want your cakes to be known for? Focus on that and create your own market’
So I did. This led to The Daily Cake Shop – Teacakes and Desserts! And I’m having more orders than I can keep up with.
As an Entrepreneur, let your business be known for something. Start with that and build it to be one of the best in that something before you start expanding into other areas.