Want Yes's Faster? Avoid Skipping This Step.

Whether you're choosing a seat, selecting a vendor, or funding a cause, it's easier to say "Yes!" when the choices are clear.

Yet, one of the most common mistakes leaders make when launching a new strategy is to skip the step of clarifying "WHY YOU?"

If you don't define a clear niche, there's a risk your big idea will falter.

• Supplier diversity is a big idea. At our recent Diverse Ecosystem Roundtable we heard a common theme. Along with A&P International, Inc. Turner Construction Company , Brasfield & Gorrie, LLC, we brought together leaders from across the construction industry to have a frank discussion about what needs to change with supplier diversity to achieve more solid business outcomes - faster. From leaders of corporations and agencies, prime contractors, and small businesses alike, the guidance for building a more resilient supply chain was to "Know your niche". Although it may be counterintuitive, the NARROWER you focus, the MORE you are believable that you can deliver and people will TRUST you. We agreed that a trusted diverse ecosystem starts with everyone at the table, being open and honest about what they do best --and not overstating their capabilities.
• Solving the world's toughest problems with innovative solutions is a big idea. In research I conducted with funders of social enterprises and nonprofits, I consistently heard the same message: "Know your niche!" Jeff Grubb is an investment banker, management consultant, and trustee for the MJ Murdock Charitable Trust. He observed, " ..whether they lead a business or a nonprofit, most people looking for funding don’t spend enough time asking themselves, ‘Why do we exist?’ ‘Why do we need one more organization doing this?’ ‘Why is what we are doing going to be any different from others doing something like it??

Having an answer to "WHY YOU ?" is fundamental to moving your strategy forward and getting Yes's faster.

But how? In working with clients, I've found it’s easier to clarify your niche when you break it into two parts:

? Part 1: Spot the gaps.

Map out the landscape of organizations addressing the same problem you’re solving and who they solve it for. Dive into the nuances of their approaches. Identifying the white spaces can help you see opportunities to create your own niche. You can also more easily see potential partnerships with organizations that are adjacent to your niche.

Warning: Many leaders struggle with this step. Some may start off a little cocky (“We’re the only ones on earth doing this amazing thing!”) but once they get into the details of mapping who’s out there, they can end up humbled - and frustrated. That's when we move to Part 2 - Exploring all possible angles of your differentiation.

? Part 2: Explore every angle of what could make you different.

While you’re WHAT (your solution) might be groundbreaking, what if competitors catch up? Start by brainstorming every strength you have, from every angle. Then ask: What about this is different from others? You might be packaging or delivering your offering in a unique way, or providing a unique customer experience, or serving a unique audience. ( And if you aren't, you could be!) Put on your detective hat and leave no stone unturned.

This two-part approach to clarifying WHY YOU may sound deceivingly simple; but unfortunately it is often skipped in the excitement of launching a big new idea.

Keep in mind as you do this important work to clarify your niche:

You’re not only making it easier for people to say "Yes!" faster.

You’re ALSO building a more confident team that can be clear and proud about what makes your organization exceptional!

I look forward to hearing your thoughts!

This article is part of my LinkedIn newsletter, "Driving a New Direction," to equip and energize leaders with practical ways to move forward, whether you're leading a new strategy or getting one back on track. Click +Subscribe at the top of this page if you'd like insights like this once or twice a month.

Explore my website www.gotomarketimpact.com to learn more about my upcoming book "FastTrack Your Big Idea!" and programs that help you quickly clarify your strategy and speed results. Or message me and let's connect!

This article originally appeared at www.gotomarketimpact.com

#riskmanagement #strategy #supplierdiversity