I spoke to the dentist on phone yesterday, and he called me because he wanted to start up a brand-new dental practice. He wanted my advice on where to build the practice and also whether you should buy an existing practice. He understood the value in establishing marketing strategy before the business was even established.
Part of your business strategy is your marketing strategy. And sadly, often business owners think about marketing after everything else has been set up. When in fact, marketing should be the first step.
Marketing strategy is at the heart of the area that you place your business, products or services that you provide, pricing that you offer, your web strategy and any type of a promotion that you run or content strategy in place. Aligning yourself with an expert who can help you establish all of this marketing strategy is the key to running a successful business.
Last month I had the unfortunate task of helping a woman sell out her inventory so she could close her business. I had not met her before then, but what she had done before was just simply hire a website designer to create her website and put her shingle out to open her business and expecting the crowds to come.
Unfortunately, this seems to be all too common. Lots of people are reluctant to spend money to make money. For this woman, the lesson cost her the retail business that had been in her family for generations. All because she didn’t have a marketing strategy or plan in place.
Understanding the delicate balance of being in business, it is important to understand how much to dedicate and invest in your marketing strategy. It is important to breakthrough any pre-existing scarcity mentality that exists in your psyche. Otherwise you’ll become penny rich and pound poor.
Lots of business owners cut corners on items that just don’t make sense. For example, I have witnessed a business owner who was running a million dollar practice sweeping the floor because they were too cheap to pay a cleaner to come in more than once per week. What they didn’t realize was that their time was worth a heck of a lot more than it would cost to keep the floor clean.
If you enjoy tidying, doing your own bookkeeping, and other time wasting tasks, knock yourself out, but is it really helping you grow your business?
If you are ready to put the broom down and work towards abundance in your business, let’s work together on your marketing strategy and take your business to the next level.
At Martin Marketing Inc. we help businesses take the lead in their industry with digital. We're centralized in Newmarket, Ontario and our remote team is located across Canada and United States.