To Market To Market - Part 3

Employee or Entrepreneur?

The primary difference between an employee and an entrepreneur is beyond just who owns the business. Employees perform a function and get a paycheck. Entrepreneurs find a customer and then perform a function. So as an entrepreneur, what you earn tomorrow is based on what you do today to find a customer. In other words, you must FIND the work before you can DO the work!

As we mentioned in Part 2, you can market to your end user or you can market to a group of people who already do business with your end user…or both. Your primary responsibility as a marketer is to find a niche market for your product or services.

A niche enables you to wake up in the morning and know what you must do to find business. A niche keeps you focused because as wonderful as we think we are, we cannot be all things to all people. The niche comes first…the money follows. Pick one niche (target market) and stick with it. Get good at it and avoid the tendency to bounce around and try different markets or niche groups. You should get really successful in one area before you expand to another.

“Successful” in this case means:

• You’re reaching your target market.
  
• Prospects are reacting positively to your marketing message.
  
• They are purchasing your products or services.
  
• Your delivery methods are effective.
  
• Your customer service methods are working well.
  
• Customers are giving you referrals.
  

Marketing is 100% of what you have to do as an entrepreneur and you should consider it your only approach to success.

To Market To Market - Part 1

It's All About Planning!

The first step in developing an effective marketing program is to develop a comprehensive business plan. Lots of folks try to market their businesses without ever having established any strategic goals. And lots of businesses have failed.

Having a business plan is like having a roadmap. You might want to go to California but how are you going to know if you’re actually getting there or if you’re just out having a great ride? Business planning is all about setting goals and determining what objectives you’ll have to accomplish to reach those goals. (Like a roadmap, get it?) And it lets you measure your progress.

Every good business plan will contain the same basic elements:

• Description of your company and its products and services.
  
• General overview of your industry in the current economy.
  
• Analysis of your competition and why you’re better.
  
• Portrait of your customer.
  
• Strong marketing message and methodology
  
• Operations and technical approach.
  
• Management team.
  
• Growth strategies.
  
• Budget.
  

In order to be successful in business you must first be successful in marketing, but do the first things first:

1. Write a business plan.
   
2. Keep it real.
   
3. Be sure it’s reasonable.
   
4. Do the research.
   
5. Have people who are objective read it.
   
6. Update it regularly.