23 Marketing Tips For Avoiding Small Business Failure
Lists like this one are usually made up of financial reasons for the failure of a small business. Unfortunately there are also many sales and marketing reasons. Fortunately, there is a positive step that can be taken for each one that will greatly increase your chances for success.
Marketing Separates The Old Ways From The New
Tom and Joe are brothers who grew up working in the family business. Tom is conservative and, in his own words, not very creative. He chose to stay with the older, established company and continue in his parents’ footsteps, running the business as his father did for the past forty years.
He had no desire to change anything and felt that if he continued to run the company the way his parents did, he would have a nice lifestyle and hopefully be able to pass the business on to his children. Tom was not a marketing-oriented businessman.
Smart Thinking Turns A problem Into An Opportunity
A sign in the window of a convenience store boldly stated ‘‘No Change.’’ The store had been inundated with people seeking change for the subway or for parking, and the owners felt that it was better to keep them out of their store.
The Importance Of Marketing
Marketing is a major driving force for fuelling the growth of your business. Many great ideas have not achieved the success they deserve because too few people know about them. You may have a great product or service but if prospective customers don’t know about you, they won’t go looking for you and may never have the opportunity to enjoy the benefits you offer. Equip your business with a solid marketing program, make sure you have covered all the bases, and reap the many rewards available to you.
Where Do You Go From Here
Email, Websites, Social Media and Social Networking have become a key part of the marketing mix. But I caution you to remember it is part of a mix that should include traditional marketing. So many naive entrepreneurs are quick to run to the next new thing, they lose sight of the tried and true dependable methods at their disposal. Just today I received my ‘paper’ copy of a well-known national small business magazine and inside was an advertising insert from Google. Traditional methods blend with new media and here comes the future.
Start-Down: The Opposite Of Start-Up
Ten years ago business owners kicked tires and spoke to a few friends and maybe some professionals with experience in selling businesses, and then put it all on hold. They never really thought seriously about selling their business or considered they might not know what to do when the time came.
The New Retirement Is Not About Slowing Down
We now have a whole generation of entrepreneurs, who if you told them a few years ago they would be starting a new business in their 50’s and 60’s you would have been met with ridicule and been subjected to their visions of a glorious stress free retirement.
It’s been quite a while since publishing the original best-selling book ‘Just Tell Me What To Do – Easy Marketing Tips For Small Business‘. In fact a little over 11 years have come and gone. During that time I have continued to work directly with owners of small and medium-sized businesses all over Canada and the United States.