I received an email question today that I found quite interesting and thought I would share it and my response…
From Gary M, “at what point do you or a business owner turn to marketing to continue growing, reaching new markets, etc…?”
and my response…
Interesting question. I would suggest that marketing is a continual part of any business and arguably the most important. Without sales a business does not exist. Until a sale is made nothing happens.
There are plenty of warehouses of products that did not sell. There are plenty of broken dreams of small business owners, I have had my fair share of failures myself.
The small business owner is tasked with simultaneously working on all fronts of the business (or hiring people to do so on their behalf). In our global commerce world, inventory is less and less of a competitive advantage unless working solely as a local business. Product is able to be purchased in China and shipped DHL in 2 days if need be. The game is changing every day. The areas you need to excel in are different today that they were ten years ago.
In the same way having the best gear doesn’t make you any more money either unless there are sales and marketing in place to get it out making money. I see “gear junkies” in every industry I work in. I watch purchases being made on tradeshow floows with dreams of making a fortune when the buyer should have first found some customers and then bought the product.
It is very tempting and dangerous to say “but my business is different.” EVERYBODY thinks their business is different. I hear it every day. Everybody needs to be marketing and view it as one of the most, if not THE most, important part of the business. It is this very belief that has allowed me to build each of my businesses to what they are today. It is what has allowed me to live a life of freedom from a day job. It is what has allowed me the privilege of following my passion. It is at the heart of everything and if you are ignoring it, then you are missing the big picture.
Profit 911 Consulting