Market Yourself #2: What “Business” Are You In?

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Posted by admin | Posted in Market Yourself! | Posted on 06-11-2008

Recently I heard an insightful illustration about 2 business owners in the early 90s. Both businesses were fairly successful selling the same product: Radios.

Radio

 

Joe, the owner of the first store, knew everything there was to know about the radio business. He sold them, repaired them and could rattle the brands off without even thinking. When asked "What business he was in" he would throw his shoulders back, stand a little straighter and reply, "The Radio Business."

 

 

Sam also owned a store that sold radios. He too, could be considered a radio expert. However, when he was asked, "What business are you in?" he would smile broadly and reply, "The Communication Business".

 

 

As the years progressed, radios became less and less popular. New technologies were being developed such as Cell phones, mobile devices and portable music alternatives. How did these 2 men react? Joe, the radio-man, stuck his feet in stubbornly and refused to change. Afterall, he was a "Radio Man". That’s what he did. He sold radios.

 

On the other hand, Sam, was constantly listening for the newest advancement in technology, soon he began carrying cell phones, portable music players and other tech toys. As fewer and fewer radios sold, he slowly quit purchasing them himself. Soon, there wasn’t a radio in his store, but his business was better than ever.

 

 

What happened to Joe? He used up all his family’s money trying to make a success out of radios. He wound up bankrupt and alone. Why? He was in the "Radio" business, not the "Communications" business.

 

 

The question is clear: Are you a "Joe" or a "Sam".  As designer’s this is an important question. As more and more things are going paperless, and design trends grow and expand, are we in the "print" business or in the "Design" business. Which sounds more fluid?

 

 

The moral of the story is, make sure you don’t try to "specialize" so much that if something new comes out and replaces your product or service, you will be left by the wayside. To continue to grow, we must be constantly learning. Go to seminars, read magazines and follow the technology.

 

 

Don’t keep trying to sell radios when everybody else has iPods.

 

 

 

 

Comments (5)

[...] New technologies were being developed such as Cell phones , mobile devices and portable music alternatives. How did these 2 men react Read more [...]

[...] As more and more things are going paperless, and design trends grow and expand, are we in the “print” business or in the ” Design ” business. Which sounds more fluid? The moral of the story is, make sure you don’t try to “specialize” so … More [...]

Excellent post. This is a particularly valuable illustration for those of us who are smaller business entrepreneurs. There is a delicate balance when it comes to specialization. Keeping your vision too broad results in spreading yourself or your resources too thin.
Keeping too focused results in becoming a “radio-man,” and ultimately obsolete.

I suppose the trick is to keep your primary vision focused, while maintaining conscious attention to your peripheral vision. Focus primarily on what you do best, but be aware of what’s going on around you.

Thanks for the story.

Спасибо за пост! Добавил блог в RSS-ридер, теперь читать буду регулярно..

Comment #4 Translation from Russian: Thanks for the post! Added blog RSS-reader, will now read regularly ..

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