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Do one thing really well: finding the core value proposition of your business and sticking to it
Feb 26, 2020
Finding the core value proposition of your business and sticking to it. In this article we highlighted the benefits of focusing time on your main business activities, and how it guarantees the success of your venture.
Or as Google said in their ten commandments for all hopeful start-ups, “It’s best to do one thing and do it well”.
Ask yourself, what does my product do? If the answer can’t be summed up in one line, then you’re overstretched. Speed and dynamism are the hallmarks of all great unicorn enterprises and by extending the features of a product, you only slow the process and dramatically increase the risk of failure.
Resources
As any entrepreneur will say, bringing an idea to market involves a mountain of work and requires unabashed devotion and dedication. However, that’s only in terms of bringing one idea to market. It’s insane to consider spreading- what are already pretty thin resources- across development of multiple functionalities etc. Define the scope of the product, keep it simple and stick to it.
Traditionally, economies of scale are a privilege reserved for larger firms that can leverage unit costs over a sizeable production output. However, the basic principle applies to all enterprises; the more you do something, the better you become at it. By limiting what that thing is, you increase the speed at which you can do it and thus increase the speed at which you improve at it. The benefits of scaling cannot be overstated for a start-up.
Lessening the risk of failure
9/10 start-ups fail. That’s a scarily high failure rate and there are a multitude of reasons why, but largely it’s because the idea or opportunity isn’t grounded in a market need. Enterprises spend massive amounts of R&D funding developing products that quite simply aren’t sufficiently attractive. If you need to add multiple features to a product to make it attractive, it’s highly likely that the basic concept is faulty. Start-ups need to be confident that their minimum viable product has value. Increasing the amount of features only deepens the chasm of wasted capital.
How to do it?
It can be a tough process to narrow down what you considered to be a sophisticated and valuable proposition to the bare essentials. We advise that the enterprise sit down, and write out a list of their unique core competencies, and then another based on the fundamental characteristics of the market demand. The one thing that the company should focus on is what exists as an overlap between these two list; the core concept. By approaching it this way, the enterprise can minimise the risk of specialising on the wrong thing.
Articles
Strategies for Sustainable Home Design
Making more of less
Depending on your point of view, bungalows are either a cherished affordable house type that allowed homeowners of the 1970s the chance to realise the dream of owning their own home or the result of poor planning and insensitive sprawl, as epitomised by the cookie cutter designs of “Bungalow Bliss” which sold over a quarter-of-a-million copies; roughly one for every second household in the countryside. Times are changing, and as families grow, we increase our understanding of the environmental and financial costs of heating a home, and as lifestyles evolve, the need for additional space and adapting these dwellings becomes inevitable. Adapting these structures and embracing modernity doesn’t mean knocking them down and starting again. The concept of extending bungalows into contemporary dormer houses is gaining popularity. Here we explore the exciting opportunities of extending bungalows on tricky sites, offering a fresh perspective on creating modern dormer houses in Ireland. Utilising Challenging Terrain Ireland's diverse topography often presents architects with tricky sites. From sloping terrain to irregularly shaped plots, these challenges can be turned into design assets. Dormer houses perfectly adapt to such sites, as their design accommodates varying elevations and allows for creative use of space. By integrating well-planned dormers into the extension, architects can exploit the unique terrain to create stunning living spaces that embrace the beauty of the surroundings. Capturing Natural Light One of the standout features of dormer houses is their ability to maximise natural light. In Ireland, where weather patterns can be unpredictable, capturing ample sunlight is invaluable. Through careful positioning of dormer windows, skylights, and glazed walls, we can find ways to bathe the extended bungalow in natural light throughout the day. This not only enhances the aesthetic appeal but also promotes a sense of openness and connection with nature. Expanding Living Space The primary motivation behind extending a bungalow is to increase living space. Modern dormer houses take full advantage of this opportunity by offering versatile and spacious interiors. Homeowners can embrace open-plan layouts that seamlessly blend the old and new sections of the house. The addition of dormer windows and vaulted ceilings creates the illusion of more space and fosters an inviting atmosphere. Adapting to Growing Families As families grow, their needs evolve. Dormer houses provide a solution for growing families by offering additional bedrooms and living areas. This adaptability ensures that the extended bungalow remains a practical and cherished home for generations to come. We can strategically plan the layout to provide privacy and comfort, balancing communal and private spaces. Sustainable Design Choices In creating a modern-dormer house, there is the opportunity to incorporate sustainable design practises. By using energy-efficient materials and technologies, we can create eco-friendly extensions that blend seamlessly with the existing bungalow. Renewable energy sources, such as solar panels and air-source heat pumps, can be integrated into the roof design, contributing to reduced energy consumption and a smaller carbon footprint. Embracing Contemporary Aesthetics While preserving the charm of the original bungalow, the extension can embrace contemporary aesthetics. Modern dormer houses can feature clean lines, minimalist facades, and a mix of materials like wood, stone, and metal. The incorporation of natural elements ensures that the extension blends harmoniously with the Irish landscape, creating a visually stunning architectural masterpiece. Conclusion Extending bungalows on tricky sites to create modern dormer houses opens up a world of possibilities for homeowners. By thoughtfully integrating dormer windows, maximising natural light, and embracing sustainable design practises, these extensions can become unique and practical living spaces that cater to evolving family needs. As the demand for more space and modern living solutions continues to grow, the transformation of traditional bungalows into contemporary dormer houses will undoubtedly leave a lasting impression on the architectural landscape of Ireland.