Sturgeon’s 10% of Practices
If a Purple Cow practice is not achievable, then being part of Sturgeon’s 10% of practices would still be a worthy goal. This would be financially rewarding of course with annual principal profits of $1m plus. If you are already achieving this, well done. If you are not, how do you get there?
Firstly, you need to start with your strategy. If you currently have a stuck-in-the-middle strategy, you need to take Michael E Porter’s advice and chose one out of overall cost leadership, differentiation, and focus. Possibly ‘differentiation’, but most likely ‘focus’.
Secondly, you need to be manic about adding value to clients in everything you do. Thirdly, you need to think about what you could do for clients and practice employees that would be remarkable.