Think about the things you do best.
Think about the things your company does best.
You know these things are your best work because:
…People compliment you, your people, your products, and your services
…People create social media buzz about you, your products, and your services
…People remember you and seek you out when they are ready to make purchases.
These are a few of the ways you can identify your Bright Lights…the most-valuable things you do.
Your Bright Lights bring your highest gross margin.
Without getting into detail, but remembering Pareto’s Law1, also known as the 80/20 Rule, let your mind focus on your Bright Lights because that will be your most efficient and effective route to business growth and profits.
Take the time to understand the things you and your people do to bring the value in your Bright Lights.
- Exactly what are we doing to cause these Bright Lights?
Then ask yourself…
- How can we replicate, enhance, and sell the value embedded in these Bright Lights?
These questions are keys to business excellence.
And, as you build your Bright Lights, don’t be afraid to Borrow Brilliance.
About Borrowing Brilliance:
- When we meet with business leaders we think about their Bright Lights and the Bright Lights we have seen at other companies in their business sector. We seek ways to inject value. Then we perform processes, including the steps recommended in the book Borrowing Brilliance – The Six Steps to Business Innovation by Building on the Ideas of Others2.
- We also borrow brilliance from leaders and companies that are not in your business sector: understanding what companies in different sectors are doing opens new avenues for building a real differential advantage.
- Pareto’s Law: a rule of thumb – 20% of the causes deliver 80% of the results. For example:
- 20% of your sales people deliver 80% of your sales and
- 20% of your services deliver 80% of your gross margin.
- Link to the book, “Borrowing Brilliance”