Marketing 101

Mining Gems From The Business Plan   Now that you have done the business plan, you are clear on your goals, priorities, and target audience, it’s time to talk about money. Successful marketing takes either cash or a “cash equivalent”. A cash equivalent is what you use instead of cash. That could be the time that you barter, but, more often than not, it’s old-fashioned elbow grease. Marketing requires time, and it also requires some money. If you have more time, you can save money. If you have less time, you can get the same work done by hiring help. One way or another, good marketing is going to cost you. I’ve heard business owners around my area say that they had such a great location or product that they could “do business by accident”. And I’ve driven past their so-called good locations when it went up for sale after they went out of business. Success happens because of hard work, strategy, and, yes, a little optimized luck. It doesn’t happen by accident. Optimized luck is what ...

  Despite the buzz that seems to be everywhere about social media, the truth is that social media is not single-handedly likely to turn your company around, make you a millionaire or send your sales skyrocketing. Social media is a tool, in the same way, that public relations, events, radio ads, and direct mail are marketing tools. Just like tools in your garage, some marketing tools are better suited for certain uses than others. In the hand of a master craftsman, a humble hammer can be used to craft out an expensive piece of custom furniture. The outcome depends on the skill of the user and the desired end result, although the tools are the same. For a small group of“master” social media, this has been a path to fame and fortune. Many of those high-profiled social media stars actually came to social media with well-established and very large opt-in email lists, an established product line, a schedule of national speaking engagements, and the benefits of being among the first in an...