Why Did You Go Into Business?
If you answered, to make money, you've got it all wrong.
That may be one of your reasons, but it shouldn't be the main goal.
You might think I'm crazy, but hear me out.
To begin with,you be wondering what makes me qualified to judge your business? Fine, I'll tell you.
As a professional marketing consultant with a degree in advertising, I've been advising businesses since opening my own advertising agency in 1976.
That adds up to three decades and about 7000 businesses.
During that time, I learned what it takes to keep a company running.
Therefore, with those credentials under my belt, please allow me to pass on a few words of wisdom.
The purpose of business is to: (a) fill a need or (b) solve a problem.
You do it by offering a product or service to the customer.
Name any business that ever existed and you'll find that this is always true.
If there is no need fulfilled or problem solved, there are no customers and hence, no business.
When you conceived your company, you choose a product or service based on your (a) expertise, (b) love of..
..
i.
e.
food, a hobby, etc.
, (c) plugging a hole in the marketplace, (d) new invention, or (e) any combination of these.
They all are ultimately need-fillers or problem-solvers.
Once the idea is firmly entrenched, we can move on.
After you uncovered the product or service you would offer, you began to formulate the expenses and potential profit involved.
It is part of your business plan that might extend years into the future.
So I have to remind you that the business is simply a concept that entails an exchange of those goods or services for something of value.
It doesn't even always have to be money.
There are barter clubs, or companies that accept stocks, bonds, antiques, jewelry, or real estate as well,for payment.
In any case, the result is the same.
The buyer receives something that they seek and is willing to give up something that the merchant agrees to, as compensation.
If the business does a decent job of taking care of the customer's desires and solves their problems, the business will grow and prosper.
There will be profits and enough to pay all the appropriate overhead associated with the company.
But, if you ever lose sight of the true purpose, pleasing the customer, you will fall into the 80% failure rate that happens to most businesses in the first five years.
If you want to learn more about how to avoid the common mistakes in obtaining and keeping customers, go to: poweradbook.
com where you can read about a book that I wrote devoted to people like you.
You know, the ones that areexcited to be in business and want to stay in business for decades to come.
That may be one of your reasons, but it shouldn't be the main goal.
You might think I'm crazy, but hear me out.
To begin with,you be wondering what makes me qualified to judge your business? Fine, I'll tell you.
As a professional marketing consultant with a degree in advertising, I've been advising businesses since opening my own advertising agency in 1976.
That adds up to three decades and about 7000 businesses.
During that time, I learned what it takes to keep a company running.
Therefore, with those credentials under my belt, please allow me to pass on a few words of wisdom.
The purpose of business is to: (a) fill a need or (b) solve a problem.
You do it by offering a product or service to the customer.
Name any business that ever existed and you'll find that this is always true.
If there is no need fulfilled or problem solved, there are no customers and hence, no business.
When you conceived your company, you choose a product or service based on your (a) expertise, (b) love of..
..
i.
e.
food, a hobby, etc.
, (c) plugging a hole in the marketplace, (d) new invention, or (e) any combination of these.
They all are ultimately need-fillers or problem-solvers.
Once the idea is firmly entrenched, we can move on.
After you uncovered the product or service you would offer, you began to formulate the expenses and potential profit involved.
It is part of your business plan that might extend years into the future.
So I have to remind you that the business is simply a concept that entails an exchange of those goods or services for something of value.
It doesn't even always have to be money.
There are barter clubs, or companies that accept stocks, bonds, antiques, jewelry, or real estate as well,for payment.
In any case, the result is the same.
The buyer receives something that they seek and is willing to give up something that the merchant agrees to, as compensation.
If the business does a decent job of taking care of the customer's desires and solves their problems, the business will grow and prosper.
There will be profits and enough to pay all the appropriate overhead associated with the company.
But, if you ever lose sight of the true purpose, pleasing the customer, you will fall into the 80% failure rate that happens to most businesses in the first five years.
If you want to learn more about how to avoid the common mistakes in obtaining and keeping customers, go to: poweradbook.
com where you can read about a book that I wrote devoted to people like you.
You know, the ones that areexcited to be in business and want to stay in business for decades to come.