Untapped leverage

Leverage gets the most out of your current strengths, which is where the critical focus must be. Focus on what’s right, not what’s wrong. Dealing from strength. It’s about rethinking and re-understanding the business you are in and the capital investments you have already made (e.g., intellectual capital), as well as the ways in which your business serves its customers and potential customers (e.g., customer capital).

I was recently at a BEDC business luncheon (www.bedc.ca) and the keynote speaker was talking about how they had rethought their business, both internally and with the input of their customers. Through the process, they began to understand that they were not specifically in the hearing aid business but, what I will call, the hearing device technology business. They were leaders at assisting people to hear things more clearly while blocking out external noise. This revelation enabled them to leverage their existing expertise by applying their hearing device technology to emerging markets like blue tooth ear pieces for cell phones and military applications.

This type of thinking exhibits leverage: getting more out of what you already have.

– Ken Tencer

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