Find Your Strategic Sweet Spot– Its What Makes a Business Different: Great Companies Always Know Their Sweet Spot…

You often hear– focus on your ‘sweet spot’: But, what does that mean? For a business it might mean the intersection of its strengths, its customers’ requirements, its competitors’ weaknesses… and by identifying this intersection it provides clarity, creates opportunity, maximizes success…

The concept of a sweet spot is an adaptation of the term in sports, for example; it’s the sweet spot on a golf club, or the sweet spot on a tennis racquet, or the sweet spot on a baseball bat… which when found achieves the maximum results– it’s the ‘spot’ that imparts the greatest amount of forward momentum to the ball for an optimum outcome…

According to Rich Schefren; strategic sweet spot in business is the intersection of all its uniqueness– it’s the convergence of all its capabilities, and provides the best possible competitive outcome… However, a strategic sweet spot is never permanent it evolves over time, e.g.; as markets change, as technologies change, as competitors changes, as organizations change, as people talents change… hence, a business must continuously reassess and redefine its strategic sweet spot…

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According to Frederick Buechner; the strategic sweet spot is the  place where passion, abilities, talents… align with opportunities to solve; economic, social and environmental problems… Finding their strategic sweet spot is an essential for any business– it’s the spot where passion + purpose + potential merges with the needs of a target audience.

Finding the strategic sweet spot is not easy, for example; in sports the professional athlete practices a gazillion times to find the sweet spot on their– club, racquet, bat… and the same is true in business, in may take a gazillion failures before a business can find its sweet spot, which will propel it into a leadership role…

According to startupprincess; the strategic sweet spot can only be found when the business dives deep into its real purpose, reasons for being, its uniqueness, its competence, its value the business must be strategically aligned with improving customer outcomes at its core foundation…

In the article Hitting the Sweet Spot by Paul O’Dea writes: In business the strategic sweet spot is where a target customers’ needs fit with what’s special about the business… In the proverbial 80:20 rule: 20% of customers deliver 80% of the profit: That 20% is the sweet spot. To grow a business, energies must be focused on finding the sweet spot– and it will provide the clarity, focus, alignment that will propel business grow… However, if you rush to execute a business strategy before finding the right sweet spot, you will just waste time and valuable resources on the wrong customers.

Customers outside the sweet spot inhibit growth and should be considered off-strategy. They make you put in effort where there is little hope of being successful… Concentrate on just those customers whose needs match the unique value the business offer… Great companies know their sweet spot customers intimately, and continuously deliver better value than their competition. Their business is tailored around the sweet spot– that’s when customers see themselves as self-select. Also, great companies understand that finding the sweet spot is a continual battle, and it requires a process, discipline, and driven by the top management…

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In the article Finding Your Business Sweet Spot by Dasko writes: Businesses often find themselves producing a whole lot of products and services they struggle to profit from, as well as, chasing after customers they are actually ill-equipped to service… When that happens, it’s time to take a step back and refocus by identifying the ‘sweet spot’ in the business. So, how do you find that ‘sweet spot’? By asking three simple questions; What is the business best at? What do the customers want the most? Where do competitors struggle?

The business strategic sweet spot is the intersection of these three elements (e.g., visualize a Venn diagram). Identifying this intersection provides clarity, creates opportunity, maximizes outcome… these, in turn, provide more efficient use of business resources, better focus, greater cost-effectiveness… hence, the final results are more ‘high value’ customers,  greater profitability, better return on investment…

The key difference between business that identify their ‘sweet spot’ and those that do not is simply; better positioning, optimal outcome… and leveraging these actions:

  • Identify and pursue the most profitable market segments…
  • Create new products and services which draw on its operational strengths…
  • Evaluate partnerships, alliances… for maximizing business opportunities…
  • More business focus to achieve greater– return on investment (ROI)…

In the article Finding Your Sweet Spot by Rich Schefren writes: Finding your sweet spot is much more than simply picking a niche… In fact, one of the main reasons why so many businesses fail is because they look for a niche instead of their sweet spot… That’s because a niche is solely based on external factors, like a recognized need in the marketplace or a problem needing a solution… In stark contrast, your sweet spot is based on your own internal factors, such as; strengths, talents, experiences, passions…

That’s why it’s a mission critical concept: By specifically identifying your sweet spot you will have a significant advantage in the marketplace… It’s the place where all these elements come together, it enables the business to provide unique value to customers… But, finding the sweet spot it’s not easy, it requires much research and introspection to find it… but it’s all worth it– the sweet spot is the unique advantage of a business– so to excel you must find it, engage it… but, don’t just wing-it.

In the article Sweet Spot–Become Extraordinary by Rick Meekins writes: Did you know that ‘you’ have a sweet spot, and that trying to operate outside of ‘your’ sweet spot can actually cause more harm than good over time? Think about it: Most people have one or two things that they are very good at… Most people have a sweet spot in which they operate very well, but are you operating in your sweet spot, now? The important thing is to get an accurate assessment of how– ‘you work best’ (your sweet spot)…

Then, the next step is to plan how to ‘fire yourself’ from the work that is outside of your sweet spot, then model your new work such that you operate within your sweet spot most often… And that means finding other people who can do your old jobs better than you, because then; the customers will benefit, the company will benefit, the team will benefit…

Being able to get great people around you is what makes great companies great. If you’re a great leader, find a great manager… If you are a great manager, find a great team… this continuum is the extension theory of the sweet spot…

All businesses have strategic sweet spots– it’s the business’ energy source; it’s where the business is most competent, in-sync, unique talent, predictable value, optimal outcomes… It feels like magic, but it’s not: It’s the intersection of the business– strengths, weaknesses, passions, differences…

According to Peter Bregman; a poll survey showed that a full 72% of workers admit to doing work they neither excel at nor enjoy… For a business to fulfill its purpose it must have an engaged workforce operating within its sweet spot: Not outside of it… The truth is mediocrity sucks, and if you are not in your sweet spot, you are probably swimming in a sea of lukewarm mediocrity.

According to Barbara Spencer Hawk; the sweet spot is the zone where you maximize strengths and minimize weaknesses. It’s that elusive, but powerful place that represents an optimum operating position in terms of– revenues, results, satisfaction… A sweet spot analyses is usually represented as a Venn diagram, and the process is simple, intuitive, self-explanatory…

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According to Alfred A. Marcus; great companies move into sweet spots and defended them, but they do not stop there; they deepened their position, they enlarge and extend it, they are focused… Their main concern is meeting the critical needs of customers... Their reach is global and consistent, and they reduce their risks by limiting themselves to their core competencies, steering away from activities that might easily involve failure…

Great companies focused on core strengths, and they stuck to their mission… This lesson is illustrated by six traits that great companies exhibit, for example; 1. they streamline the organization by spinning off non-core businesses that detracted from their mission, 2. they stay away from activities that have high risk of failure, 3. they gain flexibility by allowing other companies to assume the risks of development, 4. they exploit brands through sequels and related products, 5. they reach out through new channels, 6. they totally dedicate themselves to the customer…

Great companies always know their ‘sweet spot’ and exhibit the following characteristic; they have total focus, their performance is effortless, they are in-synch within the organization and with all stakeholder outside the organization, they display total dominance in whatever they are pursuing, they exercise exemplary leadership…