Tuesday, December 10, 2013

Build a Better Mousetrap

     

     "Build a better mousetrap and the world will beat a path to your door." is one of the myths about business discussed in my book Buisiness Fits: How to find the right business for you!
     This is a common mistake for inventors and people with manufacturing experience.  Historically, the people who invent a product seldom are the ones who make a lot of money from the product. 
      The people who market the product are usually the ones making most of the money.  Without marketing, nobody even knows about the better mousetrap, so how can they buy it.
       This is also a common mistake for people offering a service.  You may offer the best service in the world, but if nobody knows about your service, you have no customers or clients.  Without customers, you have no income. 
      Consulting businesses are a good example.  A consultant may be the best in their field, but if they don’t market their services, they’ll probably fail.  Many consultants feel they must spend a minimum of 50% of their time marketing their service and only 50% of their time providing a billable service.
      A common mistake is stopping marketing activities because business is good.  0ne day they wake up with no clients or business and wonder what happened.  Any business plan must schedule marketing and prospecting as part of the daily activities.  

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