“Think Small” is the advice Milton Chang gave to aspiring entrepreneurs. Focusing on a niche and delivering value there, tend to result in minimizing resources, competition, burn rate, and risks and maximizing potential. Once there is success, then expand and grow. This philosophy applies to new products entering new markets as well. This is the same message in Susan Friedmann‘s “Riches in Niches”.
She references the following authors:
- Chris Anderson, “The Long Tail”
- Chan Kim, Renee Mauborgne, “The Blue Ocean Strategy”
- Seth Godin, “All Marketers are Liars…”, “Purple Cow…”, “Small is the New Big…”, “Unleashing the Ideavirus”
The rest of her book spoke about 7 strategies for experts to establish themselves for consulting businesses:
- Naming your business
- Building your media muscle
- Getting involved with the industry
- Catching writing fever
- Producing products and systems
- Teaching: workshops, webinars, and more
- Offering services
She also refers to mastermind groups, which are helpful for entrepreneurs.
Copyright (c) 2008 by Waiming Mok
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