Articles - Page 10
Walter Gretzky taught his son, “To skate where the puck is going, not where it’s been.” The advice may seem obvious, but it’s not. Watch a group of kids learning to play hockey and you’ll see them chasing the puck. Our natural reaction is to chase the obvious.
Walter Gretzky’s advice is universal. Set your business up to go where your customers are going, not where they’ve been. Let your competitors chase after the obvious.
A lot of time and effort is wasted developing the wrong niche markets. A focus area might make sense on paper, but the reality can be completely different.
When developing a new niche market, a firm needs to ask 3 questions: