Page 115

GO IT ALONE!

One of Texacan’s differentiators is the safety and consistency of the product. For me, the best way to communicate that message to potential customers is through USDA designation. It took me nearly a year to learn how the USDA works, how to get an inspector into my facility, and how to design my production process in a way to earn the UDS stamp of approval.

Know your competition. I had the luxury of that year because I gave it to myself. Yes, I took a cut in pay to get it. But taking the time to master my differentiator enabled me to hit the ground running when I launched my company. . . . That was only possible through the investment of time. [Emphasis is mine.]



TAKE ADVANTAGE OF THE BENEFITS OF SCALE

One of the central questions to ask yourself as you set up your business is: Does it have the potential to achieve the benefits of scale? First, it’s important to clarify exactly what this means. Scale is a somewhat overused word that can mean different things in different contexts. Earlier, this book discussed the importance of businesses that scale. In that context, scale refers to businesses that can grow relatively easily, meaning that with growth, you won’t need to hire lots of additional people, that you can handle the workload without a loss in quality, and that an increased volume of business won’t overwhelm you with increased complexity.

The phrase benefits of scale is different. This refers to the extra values businesses typically realize when they reach a certain size. To fully understand the benefits of scale, there is nothing like experience. I found that the day-to-day practical value of scale, and in building Speed Anywhere (which operates T1 Anywhere) and Health Plans Today, exceeded all of my expectations. Each day, in a hundred intangible ways, scale matters. The lesson is clear: Part of building a successful go-it-alone business is to choose a niche where

<--previous page next page-->
Terms of Use

GO IT ALONE! Copyright © 2004 by Bruce Judson. Reprinted by permission of HarperCollins Publishers. All rights reserved.