I occasionally
attend meetings of entrepreneurial groups.
I have hosted these meetings and been a speaker, but sometimes just
attend to observe. They are attended by
new and aspiring entrepreneurs, most of whom are making the same mistake. They each have a product or service to offer
and have little or not idea how to market that product or service.
A
major business myth is, “Build a better mousetrap and the world will beat a
path to your door.” This myth leads to
failure. A business can’t be successful
without marketing.
When
most people think of marketing, they think of sales, advertising, or a web
site. The current in thing is having
an app. A web site or an app is not a
marketing plan. Unfortunately, any of
these things used alone, will fail.
I
define marketing as; “A total system of interacting business activities
designed to plan, price, promote, and deliver want satisfying goods and
services to present and potential customers.”
The key part of this definition is that it is a “total system of
interacting business activities.”
This definition includes every aspect of business, including
manufacturing.
Marketing
is interesting because it is both time and location sensitive. The market and competition are constantly
changing.
Many
people think marketing is simple. I have
a BBA and MBA in marketing, and have worked in marketing for over forty years,
and I recognize that I still don’t have all the marketing answers.
Most
innovating entrepreneurs never get rich from their ideas. Some great innovators and inventors have died
destitute. The people that are the most successful
are the ones that market the innovation properly. The history of these inventors and innovators
can teach us a lot. There is not a lot
new in business.
Don’t
ignore the marketing for your venture.
A good place to start is reading my book Business Fits. As the saying goes, “You don’t know what
you don’t know.” Business Fits is
available on Amazon as an e-Book or a paperback.
Marketing
is critical to any venture including politics.
Look at what Donald Trump has done in his Presidential campaign while
spending less than any of the other candidates.
That is effective marketing.
http://BusinessFits.com