Specialization

Capitalizing on Your Strengths (part 5) As you might have noticed, the fields of advertising and copywriting and real-estate development are very different. But these incidents, and every business situation I have been in over the years, had one element in common. Success in each area was based on the decision, first, to specialize in that area and, second, to be extremely knowledgeable in that area so that I could do a good job.

In looking at your current and past experiences for an area of specialization, one of the most important questions to ask yourself is, “What activities have been most responsible for my success in life to date?” How did you get from where you were to where you are today? What talents and abilities seemed to come easily to you? What things do you do well that seem to be difficult for most other people? What things do you most enjoy doing? What things do you find most intrinsically motivating? What things make you happy when you are doing them?

In capitalizing on your strengths, your level of interest, excitement and enthusiasm about the particular job or activity is a key factor. You’ll always do best and make the most money in a field that you really enjoy. It will be an area that you like to think about and talk about and read about and learn about. Successful people love what they do, and they can hardly wait to get to it each day. Doing their work makes them happy, and the happier they are, the more enthusiastically they do it, and the better they do it as well.

In capitalizing on your strengths, the second key is differentiation. You must decide what you’re going to do to be not only different but also better than your competitors in the field. Remember, you have to be good in only one specific area to move ahead of the pack. And you must decide what that area should be.

The third strategic principle in capitalizing on your strengths is segmentation. You have to look at the marketplace and determine where you can best apply yourself, with your unique talents and abilities, to give yourself the highest possible return on energy expended. What customers, companies, markets, can best utilize your special talents and offer you the most in terms of financial rewards and future opportunities?

The final key to personal strategic planning is concentration. Once you have decided the area in which you are going to specialize, how you are going to differentiate yourself, and where in the marketplace you can best apply your strengths, your final job is to concentrate all of your energy on becoming excellent there. The marketplace pays extraordinary rewards only for extraordinary performance.