What Business Are You In? Tip: It's a Trick Question

What business are you in?

Simple right? You answer that one all the time. Kids' soccer games, bar mitzvahs, networking. "What business are you in?" And we typically answer with the same old tired answer we're accustomed to...

Here's a big idea: The way you answer that question will determine your company's destiny. Really. If you consider the context of what you do and keep the labels at bay, you can open a doorway to creativity that can transform your industry.

Take this under advisement:

Harvard Business Review, 1960: Marketing Myopia by Theodore Levitt

Levitt's famous article pointed out that if the railroad companies had asked themselves what business they are in and answered, "the transportation business" instead of "the railroad business", they would have owned the airlines.

Labels determine what services we focus on. Labels make us product focused not client focused. They make us industry focused, not solution focused. Labels determine what type of clients we can work with and what kinds of problems we solve. Labels are destiny.

So I'll ask you again, What Business Are YOU in?

Want to read Levitt's article? Here's the link:

Jon LoDuca Founder The Wisdom Link

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