What does “be Vertical” mean, if using some simple words to further explain this term, they should be “concentrate” and “go deep”. There is too much information in today’s world, some are useful, but most are distractable. So knowing what to choose and acquire in the flood of information is vital for success.
Be vertical and focus on a field you are specialized in
According to the 10000 hours principle, it takes about 10000 hours of practice to become an expert or master. The number may not be accurate, but it tells one truth, you need to concentrate and go deep before becoming sophisticated in one field. This philosophy works in life, work, and as well as business.
Then why should we be focused, and what’s the value of being vertical?
When we need to make a decision in our daily life, we are inclined to trust an expert. So when you have developed the specification power, people will put more trust in you. Research conducted by The Technology Service Industry shows that a vertical marketing approach performs better than a horizontal approach. And what’s more, people are willing to pay extra for more professional products and services.
Take advantage of your strength and enhance it
There is a saying, don’t use your weakness to compete with others’ strengths. Rather than compete with others in the field you are not familiar with, you should find your own strength and amplify it.
In each industry, where there is a leader, there is a challenger. If the challenger is not aware of its advantages and strengths and joins in the competition war against the leader. It may fail of great probability because a new entrant/an emerging company can hardly beat a giant who has ploughed deeply in the industry for years.
Then is there still a chance to win as a challenger? The answer is definitely yes! When there is high competition in the market, you need to find a new opportunity and a different path to avoid a direct fight with your competitors. Then a vertical strategy for a niche market would be a good choice. Be more focused and more targeted, and then you will find your efforts will achieve maximum effectiveness. All in all, when you make full use of your strength to focus on doing one thing and reviewing your action plan regularly, you can win over 90% of your counterparts.
We live in a world where information is easy to get but hard to digest and distinguish. There are too many options in today’s market, and people need real specialists to guide them, so this is the reason and value of being vertical.
