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Business 101: How To Stay In Business
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You Must Constantly Advertise Your Business!
Sounds obvious, doesn’t it? But, you wouldn’t believe how many business owners I meet who refuse to do any type of consistent marketing or advertising! That is unbelievable to me; however it is normal for many businesses. Sure, they will do a small little ad in the local newspaper once or twice a year, but that can hardly be considered marketing consistently.
Most Business Owners Get This Wrong
If I were to ask you what kind of business you’re in, what would you say? If you’re like most business owners that hire me, you would probably just pick a product or service that you sell and simply tell me that you are in that industry. Right? Well, I’m here to tell you that your answer to the question of what business you’re in, should be, “I’m in the marketing business.”
If that was not your answer, then I already know that you’re most likely having huge profit problems in your business. Many business owners are in confused about what business they are in. The simplest way to look at your business is to realize that the two most important activities in your business is marketing and actually providing the product or service that you’re marketing. Yes, it’s that straightforward.
Constantly Advertise To Stay In Business
Every day that the doors of your business is open, is a day that you should be focusing on marketing because that IS your real business after all.
It’s Not Your Fault
Over time I’ve come to realize that as a business owner, it’s not really your fault for not being able to put together effective marketing campaigns and systems in place. I mean, when you first started your business, did you receive a big instruction manual in the mail about how to get customers?
Was there a course offered down at the local college designed to teach business owners how to attract buying customers? Probably not. What’s more likely is that you just told everyone you could what you’re doing now and then you sat back and waited for customers to come into your business.
Back then things were pretty simple and easy. However, that gravy train didn’t last, did it?
Once things started to stabilize or slow down you probably turned to your industry publications, magazines and newsletters which most likely told you that your products and customer service were the solution to your problem and to a degree they are, but they’re only a piece of the puzzle.
So over time you looked around at what your competition was doing and you probably began to think that if you also offered your products or services at a lower price, customers would flood into your business, but is that what happened?
Maybe at first you saw a rush of customers the first time you ran a new ad or promotion with the product at a low price, but did it continue on like that? No.
Then, as time went on you probably began doing less and less advertising because you weren’t seeing the results from you advertising dollars. But deep down inside you knew that you had to do some type of marketing and advertising, but you had no idea what to do. After all, you’re a business owner, not a marketing and advertising guy.
But That’s Where You Were Terribly Mistaken
See, if you want to be a successful and profitable business owner, you MUST become a marketing and advertising guy! Your number one job every single day is getting more customers into your business. That’s it. Why, you ask? Because the only way you make money is if prospects come into your business and are willing, ready and able to pay you money in exchange for your product or service.
You don’t get paid to counsel employees, do payroll, answer questions about when the delivery truck will arrive and you sure as heck don’t get paid to sit around all day waiting for someone to walk in. You only get paid if and when a customer pays you.
So, your number one job every day when you wake up has to be getting more paying customers through your doors. The only way to do that is to become a marketing and advertising fanatic or hire someone who already is to take care of that for you.
When you begin to look at yourself as the marketer of your business, instead of just a business owner, it will become very easy to see if you’re doing the right things to attract customers or not. I knew business owners who NEVER advertised their business and shortly after the recession hit, those guys went belly-up.
Are You Serious About Making Money?
Every day you that you seriously want to make money you should be running a different promotion, ad or marketing campaign. Don’t tell me that customers get tired of seeing your ads, because I’m going to tell you to advertise in a different area that hasn’t seen that specific advertisement or promotion yet.
Don’t tell me that it’s too expensive, because I know about one hundred ways to advertise your business on a shoe-string budget and most of them cost less than what you spend on lunch for the week.
In order to succeed in this new economy and sell more products and services than your competitors, you MUST view yourself as the marketer of your business and NOT just an owner of a business.
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