Many small and medium size businesses struggle to succeed, despite the fact that they produce great products or provide a great service.
These business owners often find it difficult to be successful in business because they actually focus too much on their area of strength (their technical skill or ability in what they produce), instead of cultivating a market for their products or service.
Marketing is typically an area where most business owners lack knowledge or skill, yet it is the most critical driver of business success. Everything in business starts with the sale. Sales drive cash flow and profits. It doesn’t matter how much better than your competitors you are at producing your product or service, if you can’t sell it, you may as well not be in business.
Most small and medium size businesses try to excel in providing quality products or services and hope that because of the level of customer satisfaction this achieves, they will get more customers by word of mouth. But “word-of-mouth” is not a marketing strategy. Yes, it is something that should happen and will happen if you produce great products or services. However, it is not a strategy because it is something that is entirely under the control of your customers and not in your control at all. It is something that may keep you in business, but it is not something you can rely on if you want to be successful in business.
To be successful in business and to grow your business sustainably and consistently, you must make marketing your first priority and you must work proactively to develop a number of methods that bring you customers, or leads that turn into sales. If you are struggling to grow your sales and wondering how to be successful in business, look at your marketing strategies and try to develop at least three methods that generate new sales opportunities.
I’d love to know what you come up with, so put your answers in the comments below and see how we can help out our growing community of business owners who are on their way to significant success.