The number one way to grow your business faster is to truly understand who you serve the best. Where and how do you connect with them the most? Let’s imagine you run Facebook ads. You can run them for a fashion retailer, a skincare brand, and an info product, but the three are not the same.
There’s either an emotional, logical, or experiential affinity that you have for a particular spot, for a particular kind of client. That gives you an unbeatable advantage. If you waste your time and your effort trying to spread out and service everybody, you actually make yourself much less efficient. You go much more slowly, and you compress your margins.
We get better at the stuff we do more frequently. If you understand skincare really well because you understand the products, the margins, the buying triggers, the audience, and the upsells, you can do that for five skincare companies. You’re going to be more efficient at that and be able to add more capabilities or add more clients to your portfolio. Whereas if you had five disparate companies that all had different processes and metrics that you had to be tracking, you’re not going to be as good. The number one way, and arguably the number one skill of any startup CEO, is having a great customer picker.