Width is the number of products offered by the company. Depth is the number of products offered by one specific product line
Time for a turnaround.
Time for a transition.
Time for a shift.
Time for a change.
Time for risk-taking.
Time for victory.
Time for triumph.
Time to achieve.
Time to accomplish.
Time to rule.
Time to pivot.
It’s a brand New Year already
It’s 2023 already
Why wait?
It’s time to be great.
Great in starting a business &
Great in running a business &
Great in executing a business.
Embarking on a business journey is not easy. Embarking on an entrepreneurial journey is not easy. As all will attest, the road is full of disappointment and obstacles. There is much that they can do about it to enhance their chances of success.
If you are wondering if a company manufacturing 50 products is better or more successful than a company making only 1-5 products, then you might be wrong. Think about it again. Look at the “Apple” brand strategy.
So the strategy is to focus on the first one product and the product’s design and its functionality first, which is called the “depth” and once that particular product gets successful, then you can go to manufacture some other product or commodity. This should ideally be the strategy to be incorporated in most businesses.
What is Width?
Say if you have a business, the width is described as the number of parallel product lines a company or a brand has on offer.
Business width is not always a path towards growth and it can have unintended consequences for other business aspects — including the consumer experience central to the company’s value proposition.
Indeed, present trends are moving away from broad offerings or width in many sectors and industries. A recent poll had 75% of customers saying they would pay more for a simpler, more convenient and basic experience.
For instance, McDonald’s was known for years that customers were demanding an all-day breakfast, but to be able to offer it, it first had to focus on the “depth”. Yes, they had to streamline and revamp its kitchens first and then work on the other aspects.
What is Depth?
Growing your business and building it, greatly depends on the relationship you have with your consumers. This is the key element of building your presence and ensuring you remain in your target audience’s minds.
The best way to do it and ensure it is by focusing on the depth. Depth essentially means focusing on one particular product and bettering it and bettering it, until success is achieved. This is also called “maximum focus in minimalist approach” that involves digging through the depth of the complexity. In other words, you have to go really really deep.
This also means, reducing the non-essential in order to focus on what’s truly important, what gives purpose to your lives, what gives you value…true and real and genuine value. This core concept is called art of focus or “depth” and the biggest global testimony is Apple which always believed in achieving more by doing less.
Final Thoughts:
While driving a vehicle, what is most important!
Driving or texting while driving.
Driving. And “only” concentrating on driving right…
Otherwise, you are hundred percent prone to accidents or mishaps or injuries or hazards or setbacks or casualties. The same logic also applies here.
Depth >>>>>> Width.
Then you can have a crystal-clear vision on the independent issue or problem you are trying to solve. Multi-products or multi-businesses are hectic & alleviates chances of a properly developed project – From identifying the product, to prototype stage to actual making/manufacturing.
Don’t be like those businessmen/founders who are only concerned about their width and often split their resources across too many activities, dramatically reducing efficiency and effectiveness across all activities.
If you want to attain success in business, you need to focus on one particular product or maximum 5 products and that is the only rule. Yes, only a few products.
After the success of your first product, then expansion can be thought of, otherwise it’s just pure pointless. Thus, in business, it can be concluded that the depth is more important than the width.
The writer is a well-known Astro Strategist and Business Astrologer
Email: [email protected]
