What Business Are You In?

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~~ DAVID FREY'S ~~

~~ MARKETING BEST PRACTICES NEWSLETTER ~~

'The Web's Leading Small Business Marketing Newsletter'

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This is the SIXTH and final installment of the 'Six Deadly
Small Business Marketing Mistakes' mini-course.

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What Business Are You In?
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A couple of weeks ago I was visiting with a marketing
executive friend of mine. I was excitedly telling him all
about the new marketing course that I had just developed
and how awesome it was. He patiently sat and listened to me.

He could see that I was really enthused about what I had
just created. After I had finished my boasting and gloating
he got up, and as he started to walk away he said, "That's
great David, now the real trick will be getting people to buy it."

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What is the Principle Objective of Your Small Business?
__________________________________________________________

My first reaction to his comment was, "What do you mean.
Of course people are going to buy it. It's the best work I've
done to date." But as I pondered for a moment about his
comment I realized that I had fallen into the age-old deadly
small business mistake that most entrepreneurs fall prey to;
forgetting the principle objective of my business.

My marketing friend subtly reminded me that my principal
occupation is NOT marketing consulting; it's the MARKETING
of consulting services.

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"Any Fool Can Make Soap, It Takes a Clever Man to Sell It"
______________________________________________________

There is an old advertising quote that says, "Any fool can make
soap, it takes a clever man to sell it." This is as true today
as when it was first uttered many years ago. Any Tom, Dick, and
Harry can make a bar of soap. In fact, Harry might make a soap
so advanced that it is even self-rinsing! (By the way, there is
a self-rinsing soap called the "Hand Sanitizer" made by Purell...
it's fantastic)

Even if it's the most advanced soap on the planet earth, it
won't matter if no one buys it. I hate to think of my masterful
marketing course as just another piece of soap, but that's
exactly what it is. There's a thousand great marketing courses
out there...

...but it takes a clever man (or woman) to sell it!

Failing to understand (or accept) this principle is so
poisonous that it can kill any small business fast. You see, to
make a small business successful you need cash flow. To get cash
flow you need customers. To get customers you must sell your
product or service.

You might be a plumbing wizard or a crack electrician, but so
are the fifty other plumbers and electricians whose ad sits right
next to yours in the yellow pages. No matter how great your
technical skills are or how innovative your product is, your
business will wither away and die like 80% of all small
businesses if you can't sell it.

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How Would You Do Things Differently If...
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Let's suppose for a moment that you truly did internalize this
critical principle. Suppose that you sincerely believed that your
most important function was the marketing of your products and
services. What would you do differently tomorrow morning?

- Would the contents of your daily to-do list change?

- Would you allocate and prioritize your time differently?

- Would you consider changing your role in the organization?

- Would you change the criteria and process with which you screen
new employees?

- Would your personal training agenda and employee training
change?

I would suggest that if you really believed deep down that your
primary business objective (and number one goal) is to *market*
your products and services, your to-do list, the way you allocate
your time, your role in your company, the hiring process, and
your personal and employee training would be radically different
than it is today.

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High Value Activities
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Now that you know what your primary business objective is,
what are your going to do about it?

In my prior life as a big-time corporate consultant I was
sensitive to how much my company billed by clients for my
time (it was a lot). I often asked myself, "Am I adding
value right now equal to the price my client is paying?"
It helped me to prioritize my activities.

I suggest that you make a habit of asking yourself that same
question everyday. Allow me to list out a few activities that I
(and you should) consider "high value."

- Creating (or developing) something unique in your product
or service.

- Attending direct response marketing conferences / workshops /
bootcamps.

- Meeting with your mastermind marketing group.

- Building your personal marketing swipe file.

- Finding low cost targeted advertising opportunities.

- Studying the marketing strategies of your competitors and
other businesses outside of your industry.

- Networking with other owners and representatives of
businesses that target your same market.

- Testing your advertising and marketing to improve your
current response rates.

- Writing articles for trade journals, local newspapers,
magazines, industry newsletters etc.

- Writing sales letters and managing your direct mail
marketing campaigns.

- Training employees on current offers and how to present
them to customers.

Okay, that's enough. Do you get the idea? Normally, your Director
of Marketing would perform those activities. You must become the
Director of Marketing! That should be your new role in your
business. Why leave the absolute most critical part of your
business to someone else?

I can hear you saying right now, "But I'm already doing all those
things." And my response is, "How much time are you devoting to
those "high value" activities?" Do you need to hire a manager or
assistant to relieve you of all your other duties so that you
can focus exclusively on those activities that have the most
impact on your business?

Brian Tracey, a famous author and speaker has said that, "To be
really successful, you should stop doing any activity that
wouldn't normally pay you what your worth." For example, if you
think you're worth $50 an hour, why would you be filing papers
when someone else can do it for $8 an hour?

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Becoming a Master of Direct Response Advertising
_________________________________________________

If you were to ask me, "David, I only have $1,000 to market my
product. Where should I spend this money to get the highest
return on my investment?" My response would be to invest it on
your personal education. Nothing will bring you a greater return
on your marketing dollar than your personal investment in
becoming a master of direct response marketing.

I regularly spend thousands of dollars every year investing in
books, tapes, CD's, workshops, conferences, videos and every
other form of educational medium. In fact, as I have interviewed
many successful business people I have consistently found one
common trait. Each person had a passion and insatiable desire to
learn and invest heavily in their own private education.

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What Do Bill Gates and Oprah Have In Common
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Other that their own personal Fort Knox, Bill Gates and Oprah
both have an insatiable desire to learn. Did you know that every
year Bill Gates goes away for a week with a suitcase full of
books just to read. If Bill can find time to do it so can you.

Oprah is famous for her "book of the month club." Do you have a
reading list and if so what is on it? If you want your business
to succeed, let me recommend a few books that you should consider
having on your reading list.

> "Getting Everything You Can Out of All You Got" - Jay Abraham

> "The Ultimate Marketing Plan" - Dan Kennedy

> "An Entrepreneurs Guide to Commonsense Marketing" - Brad Antin

> "Positioning: The Battle for Your Mind" - Al Reis

> "The 22 Immutable Laws of Marketing" - Jack Trout, Al Reis

> 'Nobody to Somebody in 63 Days or Less - The Ultimate Guide to
Business Networking and Word of Mouth Advertising' - Joe Ilvento

> "Influence: The Psychology of Persuasion" - Robert Cialdini

> "How to Market a Product for Under $500" - Jeffrey Dobkin

This list is only a start, but it will give you a good solid
education about the fundamentals of direct response marketing.

Note: Al Reis and Jack Trout are not direct response marketers,
but marketing strategists. Robert Cialdini is a psychologist.
You won't learn any brass knuckle how-to's from them but they
are the masters of the marketing and your library would be
incomplete without their writings.

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Conclusion
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One of the worst mistakes you can make as a small business owner
is to be fooled into thinking that you are in the business of
producing and delivering products and services. Wrong! You're in
the business of *marketing* products and services. The faster
you realize this, the faster the cash will flow.

I've always said, good marketing can make up for a bundle of
operational sins (just ask Microsoft). Marketing IS your
business, not just part of it. Become an expert in direct
response marketing by investing heavily in your own education.
Reevaluate how you are managing your business by asking yourself
some of the questions that I've mentioned.

What I've shared with you may require a new paradigm shift. But
if you want to not only survive, but also be a super-success,
you must make the shift.

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A Course Summary
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Throughout this marketing mini-course we've talked
about six deadly mistakes that small business owners
make daily.

There were...

1. NOT developing a marketing plan

2. NOT being unique and communicating it properly

3. NOT having a systematic referral program

4. NOT cultivating your current customer base

5. NOT participating in joint venture marketing

6. NOT realizing you're in the business of marketing

That's it. There they are...now what are your going
to do about it?

Of course, I could have listed 25 more common
mistakes of small business marketers but these
are the big ones.

Most of the time it's not the things you do wrong
that hurt you, it's the things you DON'T DO that
will hurt your business the most.

If you just focused on being very good at these six
strategies, your small business can't help but
become a raging success.

I challenge you to take the time to re-read and
ponder these six mistakes and vow never to
commit them. Moreover, start today to make
an action plan for putting the strategies and tactics
we've talked about into action.

Have a successful day!

David

http://www.MarketingBestPractices.com
Mailto:David@MarketingBestPractices.com

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ATTENTION TO ALL SMALL BUSINESS OWNERS, MARKETING
DIRECTORS AND SALES PROFESSIONALS...

...who would like to attract more new customers, sell more to
existing customers, and bring back your customers more often,
with less effort -- mo matter what product or service you sell.

Visit http://www.MarketingBestPractices.com/MarketingBible.htm

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David Frey has helped hundreds of small businesses
literally double their revenues in six months or less.
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MEET DAVID FREY
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Questions? Comments? Ideas? Opinions?

Email: David@MarketingBestPractices.com
Phone: 281-993-5657
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