Business owners know that providing an excellent product with excellent service at excellent prices typically leads to strong growth and profitability. But did you know there is another more subtle — possibly more powerful — factor that can pave the path to better profits? It’s your mission statement.
In his book, Good to Great, Jim Collins asks, “Are you a hedgehog or a fox?”
The Hedgehog Concept originated from a line of the Greek poet Archilochus, “The fox knows many things, but the hedgehog knows ONE BIG THING.”
As the story goes, the cunning fox spends hours strategizing the perfect attack on how to eat the hedgehog. He continually tries and fails, as the hedgehog simply rolls into a shiny, spiny ball with each attack.
After days of the fox’s attacks, the hedgehog’s laser focus on one simple method of defense keeps it alive.