What the hell is a purple goldfish?
Let’s break down a purple goldfish in two parts. This post will focus on the first part: the goldfish
The growth of a goldfish (your product / business / career) is affected by 5 factors:
1. Size of the Environment (The Market)
GROWTH FACTOR: The size of the water the goldfish is in.
RULE OF THUMB: Direct correlation. The larger the bowl or pond, the larger they can grow.
2. Number of Goldfish (Competition)
GROWTH FACTOR: The number of goldfish in the bowl or pond.
RULE OF THUMB: Inverse. The more goldfish, the less growth.
3. The Quality of the Water in the Environment (i.e. The Economy)
GROWTH FACTOR: The clarity and amount of nutrients in the water.
RULE OF THUMB: Direct correlation. The better the quality, the larger they can grow.
FACT: A malnourished goldfish in a crowded, cloudy environment may only grow to 2 inches / 5 centimeters.
4. How they’re Treated in the First 120 days (i.e. Start-up Phase / Launch)
GROWTH FACTOR: The nourishment and treatment they receive as a fry (baby goldfish).
RULE OF THUMB: The lower the quality of the food / water, the more the goldfish will be stunted for future growth.
FACT: The difference between the largest and smallest goldfish is by over a factor of 10. The difference between an average and the largest is by a factor of 5.
5. Genetic Make-up (i.e. Differentiation)
GROWTH FACTOR: The genetic make-up of the goldfish.
RULE OF THUMB: The poorer the genes or the less differentiated, the less they can grow.
FACT: The current Guiness Book of World Records holder for the largest goldfish hails from the Netherlands at a lengthy 18 inches / 50 cm. To put it in perspective that’s about the size of the average domesticated cat.
The One Element You Can Control
Out of the five characteristics for growth – there is only one that you can control 100% (assuming you already chosen your market and launched your product or business). That characteristic is differentiation. How do you stand out in a ‘sea of sameness’? What makes you remarkable in how you conduct your business and serve your customers?
{ 2 trackbacks }
{ 0 comments… add one now }