I’ve bee meaning to write about some of the concepts from Good to Great
(image via AmyGaines on Etsy)
The Hedgehog Concept is this idea that in order to run a successful business, you need to answer these three questions:
- What am I passionate about?
- What drives my economic engine?
- What can I be the best in the world at?
In order to create a great company, you need to pursue the areas where your answers to those three questions intersect.
I think the answers to the first two questions are pretty straight-forward. We all have things we’re passionate about. (And if you’re reading this blog, you’re probably pursuing at least one of those passions as a business.) And what drives my economic engine is really a fancy way of saying, what can I make money at? Just because you’re passionate about something doesn’t necessarily mean you’ll make money at it. Conversely, you may be able to make money doing something, but if you aren’t passionate about it, you won’t be able to sustain it in the long run.
Now the third question is the one that seems more challenging if you’re running a very small company. I often think, “how could I possibly be the best in the world at anything when I’m running a business by myself?”
One way to find what you’re best at is to dive deep into a niche. Will I ever be the best in the world at making eco-friendly accessories? Probably not. But could I be the best in the world at making high-end cup cozies that double as bracelets? Seems like a greater possibility.
But in The Fire Starter Sessions, Danielle talks about a completely different approach to answering this question. According to her, she is the best in the world at “telling her own story.” Because no one knows her story better than her.
This is brilliant.
If you’re running a business based around your talent, vision, and creativity, then that gives you an edge. Because no one in the world can be better at being you than you.
When you look at designers and entrepreneurs who’ve turned themselves into really big brands, you can see that they’ve done so by being themselves. Martha Stewart. Jonathan Adler. Amy Butler. They’ve all built big companies by being the best at being themselves.
As you think about ways to grow your business, I’d encourage you to sit down and figure out your own personal hedgehog concept. What are you passionate about? What makes you money? And what can you be the best in the world at?
And if the answer to that last question is “being you,” then how can you leverage your strengths, talents, and personality into building your own creative empire?
Oh, and speaking of The Creative Empire, Tara and I are getting ready to launch some amazing content, but first we wan’t to hear from you. So head over to Tara’s site to let us know what drives your business, and to sign up for the list to be the first to know when The Creative Empire launches.
This is a great way of thinking about growing a business. Megan you’re good!
I love this concept… I am the best in the world at being me!
I have begun to notice that the pieces that i sell most of are the ones which have a little story attached, something for people to connect to.
I need to develope this more!
I can certainly attest to this. Trying to beat other people (or even just catch up!) to others at their own game is EXHAUSTING and not at all profitable.
Doing your own thing, doing it REALLY well, and marketing to your strengths is key. Finding where your strengths & market demands meet is where the $$ are at.
I’ve always 2nd guessed myself with phrases or my photo shoots in concern of “Hmm, I wonder if this will fly”, but after reading this and knowing that I want to become a big brand the only way that will happen is simply being me – rude, crude, happy or not 🙂
So true, as I learned the hard way with my first creative business. It was successful in some ways but I was not passionate about it. At my core I’m a minimalist. I’m in the process of building a new creative business based around what comes naturally to me.
Very good, Megan. As artists and artisans what we create is ours and who can do us better than us?
I originally read GTG for my day job at Penn State University. I loved the concept. It was easy for those of us marketing a major university to embrace the philosophy.
It is really cool thinking about it now from the perspective of my small personal creative business. The idea of storytelling is perfect.
I watched a TED talk recently that ties in well with this idea. The speaker, Simon Sinek, talks about starting with your why. His point is that people don’t buy what you do, they buy why you do it. Here’s the link if you want to watch it:
http://www.ted.com/talk/simon_sinek_how_great_leaders_inspire_action.html
thank you for posting this! It made me smile.. because the best thing in the world I’m good at – is being me. I can do that…
I can live with that. If I never make it… it’s okay… because I was me.
I have heard “tell your story” for a few years now from various craft business gurus at various workshop/seminars I have attended. It sounds easier than it is–at least for me. And why? If you are a creative maker of things and you have attained skills because naturally you’ve been perfecting your creative process over the years…it doesn’t seem all that special. Well, it is–and that is a big part of the story.
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I have spent a lot of time thinking about the Hedgehog concept but had not come up with being the best at being me. Thanks for that. Dean
When you finally figured it out what you’re really good at and what really is the niche that suits you. Then you’ve got a whole lot of competitors, what is that “thing” that will make you standout? or at least be among those that stand out?