Market segmentation—dividing your consumer base into smaller groups that have something in common and then creating and marketing products to specifically appeal to these groups—may sound like a great idea, but it often works like a terrible one.

The reason is simple. Market segmentation slices and dices the customer base. A new product, service or marketing message directed at these slices, even if it is successful, cannot produce as much revenue as a successful new product, service or marketing message directed at the entire customer base. If you want to make a big difference, you must start with something that has the potential to be big. This seems obvious, but over and over again, companies lose sight of it, resulting in the failure of 9 out of every 10 ideas.

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