These six traits reinforce one another. Specialized ability and knowledge,
when demonstrated, attract and win customers who see their value and are willing
to pay for it. They also admit a specialist into an ecosystem of both generalists
and other focused firms that may be collaborators and competitors all at once.
The healthier that ecosystem, the easier it is for the specialist to stay in its niche
and thrive with its peers. Also, it becomes increasingly important to deepen the
ability and knowledge that guard the specialist’s place. As Michael Porter points
out, the pursuit of growth often blunts the edge of differentiation. More than any
other kind of business, specialists need to keep that edge honed. +Thomas A. Stewart
[email protected]
is the executive director of the
National Center for the Middle
Market at Ohio State University.
Formerly the chief marketing
and knowledge officer of Booz &
Company (now Strategy&) and
editor-in-chief of Harvard Business
Review, he is a contributing
editor of strategy+business.Patricia O’Connell
[email protected]
is president of Aerten Consulting,
a New York–based firm that
devises content strategy for
B2B and B2C businesses and
develops thought leadership for
senior management.Stewart and O’Connell are the
coauthors of Woo, Wow, and Win:
Service Design, Strategy, and the
Art of Customer Delight.62
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