Every company uses the same basic building blocks as the foundation of its business, but each company also brings unique factors to the mix to set it apart from competitors and draw clients to it.
As a business leader, you need to identify these special components and focus on them in your daily practices so your business can succeed.
“It’s a lot like serving a stew,” says Joe Cullinane, adjunct faculty member at Northern Illinois University. “All stews have carrots, meat and potatoes, but the real trick is adding that special ingredient or sauce that keeps people coming back. It’s the same in business — you need to determine what makes you different and special.”
Smart Business spoke with Cullinane about how to determine these special ingredients and incorporate them into strategic planning and artistry.
What do you mean by ‘serving the stew,’ and why is this important for businesses?
It’s a metaphor for the dish that only you and your organization can serve to the marketplace. Just like every individual, every company has an identity. The stew represents all the ingredients that go into identifying the company and defines it in terms of what it brings to the world in a way that no other entity can.
It challenges you to think creatively about what makes your organization compelling and special. You then focus on those items, or the special sauce, and apply it to everything you do. It’s a marketing strategy to identify authentic differentiations and work from your strengths.
Cultivating a deep sense of the organization’s identity is the most effective way to navigate endlessly rapid change and fiercely competitive markets.
How can companies use their different ingredients in everyday business matters and strategic planning?
You can focus on doing more of it when you’ve identified what makes your business special. For example, Google’s specialty is innovation, and we see that in the vast array of products it launches every year.
Apple combines advanced technology and elegant designs to create items such as the iPad. Four Seasons Hotel has unparalleled customer service in everything it does, and Disney sprinkles its magic on the total customer experience.
Some of the most successful companies are leading the field just by really finding out what makes them special and focusing on it. This really helps you stay focused on what matters.
