Most people are sitting on their own diamond mines. The surest ways to lose your diamond mine are to get bored, become overambitious, or start thinking that the grass is greener on the other side. Find your core focus, stick to it, and devote your time and resources to excelling at it.
TRACTION, Gino Wickman
So, what is a core focus?
Have you lost sight of why you are in the business? Is the passion for your business slowly fading away? Defining a core focus will return you to your original levels of clarify and excitement!
But, what is a core focus? It’s been called many names, such as “sweet spot”, “core business”, “mission statement”, “the zone” — these are just some of the names that have been given to the concept of the Core Focus of a company. If you have read the book “The 8th Habit” by Stephen Covey, he calls is “voice”.
Whatever you decide to call it—it comes from your company’s core and you must stay laser focused on it!
Once your core focus is clear, you will realize that certain products, people, practices etc. are simply not a good fit and not worth doing if they are not a part of your core focus.
Decide and go all in
Your talents + passions + leadership = core focus
You can only succeed in the kind of business that is right for you and your team. When you combine your talents and passions with your leadership, you create something unique that no other company has. The following exercise was designed to help you uncover what your core focus is.
How to determine your core focus
Short answer: Define, with absolute clarity, your reason for being and your niche.
Core focus is very simple. Don’t overanalyze and overthink it.
Like your core values, your core focus already exists; it’s just a matter of chiseling away the non-core items before you can get it.
Start by answering the two questions below:
1. What’s your purpose, cause or passion?
Why does your company exist? Once this is clear, you won’t be able to tell what business you are in. You should be able to take it into any industry. Also, this will keep you from confusing it with your niche.
Your purpose, cause or passion should meet all of these points:
- Stated in three to seven words
- Written in simple language
- Big and bold
- Has an “aha” effect
- Comes from the heart
- Involves everyone
- Not about money
- Bigger than a goal
Example:
Bring inspiration and innovation to every athlete in the world.
NIKE
2. What is your niche?
Your niche should be simple and becomes a filtering mechanism to make decisions as your company moves forward.
Niche examples:
Creating the right program with right coverage.
Autumn Associates
In conclusion
When your niche and your company’s purpose are crystal clear, you have a core focus! Once your core focus is clear, you have to stay true to it. Now your people, systems and processes can be put in place to drive it with consistency.
Don’t allow yourself to get distracted by the shiny stuff until you have exhausted every opportunity in your core focus.
Important point: The task of clarifying your core focus assumes that you already have a financial model that works.
