You have permission to publish this article electronically or in print, free of charge, as long as
bylines are included. A courtesy copy of your publication would be appreciated.YOU KNOW YOUR BUSINESS IS FAILING WHEN…
by Joann Marsili © 2001
Over years, we have talked with many different types of businesses. The businesses having most difficulty being successful inevitably have same type of issues.
YOUR BUSINESS IS FAILING WHEN YOU....
Assume Everyone Already Knows What Your Business Is -- Just hang out your shingle and everyone will come running, right?
Wrong! People won't notice you unless you take time to interest them in what you do. Consumers or businesses are very busy just trying to go about their business. Tell everyone what you are doing, give everyone your business card, and volunteer to give presentations in your specialty. In addition, don't qualify people indiscriminately -- tell EVERYONE! The bank teller may have a brother who is looking for exactly your product. You never know where or how networking connections are made.
When people do express an interest, get their name, address, and phone number and start a database of potential clients. These people have pre-qualified themselves and you need to find out how to sell your product to them. If you sell to consumers, you might gather names through business- card drawings, guest books, etc. If you sell to other businesses, you might run promotional seminars or sign up to display at a trade show.
DON'T PUT TOGETHER A MARKETING PLAN –
Who needs to market a business?
I'm in a great location and I can't afford expense, right? Wrong! Marketing is lifeblood of your business. There's an old saying that goes "nothing happens until you make a sale." If you have no one to make a sale to, you don't have a business. Marketing dollars are not an expense; it is an investment in success of your business. Plan a monthly marketing budget and then look for ways to cost-effectively use your dollars. The decision on where to allocate your marketing dollars will depend on what type of business you have, where you are located, where your customers come from, and whether you offer a product or service. Reading anything by Jay Conrad Levinson will help set a framework for anyone involved in marketing of a business.
