Scott .. great points! We decided to move in the smaller direction as you mention and are much better off because of it. We went away from the daily feeding of the employee/overhead beast and are focusing on just two of us reaching the "million dollar" business instead. Thanks for re-enforcing the decision.
Aim low? I really disagree with that. Myspace just wanted to be a place for musicians when they started. Remember when FOX was that cute little network competing with the three big ones? Start small, get a manageable goal in mind and then aim higher. There can only be one valedictorian, but you better believe I’d tell every kid in class to aim for it.
Now there is a difference between growth and value. There’s a great book call Small Giants that showcases a few companies that chose to be great instead of big. They all have strangleholds in their markets, smaller than they could be by choice, but add a tremendous amount of value to the customer and the employees. If that’s what you’re getting at, then yes aim lower for your market share and growth rate, but never value.
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Today, Patriots' day, I listened to David Heinemeier Hansson (creator of Ruby on Rails framework) talk about the secret to making money online in a presentation at "Startup School '08", and most of my podcast today is on that subject, my takeaways, and thoughts related to my business in affiliate marketing.
Watch his presentation here