Why? Because it works.
I would like to take a few minutes to speak to you about something I have been worried about for some smaller businesses. I am speaking of the following mindset: “We’ve always done it that way in the past and we’re not about to change now.”
There are countless numbers of successful small businesses that are on the verge of being challenged by outside competition. Is your business prepared? Will you be ready to protect your market share when the time comes to go to battle? Are you using modern marketing strategies and tactics?
Because it works
Why do large businesses take the time to brand themselves within their market? Why do they put all that effort into the way their promotional materials look? Because they know from experience that it works. It works because they make it a priority in their company. Sam Walton, founder of Wal-Mart, said that if he had $100 to start a business, he would spend $99 on marketing. Whether or not you like Wal-Mart is beside the point. They are successful. They have put literally thousands of stores out of business. I don’t like Bill Gates—but I would never argue that he has not been successful at marketing his products. Sam and Bill paid attention to their marketing. They used sophisticated tactics and strategies to reach their highly-defined target markets. Why? Because it works.
Someone’s at the door
Big business is knocking on your door. The way you do business will have to change if you want to survive as a small business owner. Start by incorporating the lessons learned by those that were too late in responding to the challenge of larger businesses. Get serious about your marketing plan. Who are your threats? What are their weaknesses? Better yet, what are your weaknesses?
Home field advantage
Right now, the business is yours to lose. It will take far more resources for a competitor to come in and steal your market share. Don’t wait for them to get any momentum established before you get your plan together. Playing catch-up will be costly.
Don’t be an “if only”
“If only we had this piece of equipment”. “If only we could provide more services”. These are tempting mindsets for small business people. How do I know? Because in the past, I’ve been one of them. Sometimes we think there’s a magical product or service that will have people beating down your door to give you their business. The next time you are tempted with these thoughts, ask yourself if you have properly explained the services you already offer, or the machines that are sitting idle already in your shop. Have I made my customers an irresistible offer?