I think what businesses need to to do in these century is to find their core. Their main business, focus on it and outsource the rest. That’s what Apple does.
Apple does not build any of the devices that carries their name by themselves. They work with various orisirisi suppliers that manufacture the various parts of their devices and then Foxconn in China does the final coupling together of the parts. Yet, Apple still makes huge profit from their products. I read a few years ago that 26% of an iPhone is made up of Samsung components!
What then is at the heart of Apple’s business? Design. Apple is ruthlessly focused on design, they work hard at designing great devices and user interfaces that feels right to human use. Working hard to improve an already great design. They work out the design and outsource everything else to partners.
So, maybe we should reduce time spent on things that are not central to our business, those ones can be outsourced to specialist in that domain allowing us to double down and do great work in our own field.
