by Christine Till
So you left your J-O-B without a plan and without a single dime?
Technically, 85% of new businesses are bankrupt before they even get started. Why do you think that is?
There are three key reasons for this.
1. There is no plan of any kind...no marketing plan...no business plan.
People get laid off their jobs, cannot find a job right away, and so they decide that they can just go out and get clients of their own doing what they did before, or they can start a small business with a "bright idea". They have a big dream and have absolutely no idea what they are going to do to reach that dream.
2. There is NO marketing budget.
With all the free online marketing that can be done today, people tend to think that they can just do social media and email marketing and make a million dollars. They have no training, no coach, and are simply wandering in the dark.
Here's the secret: You NEED a marketing budget.
3. There are no clients.
These new business owners in starting their business have no idea where to find clients. They think that if they just broadcast on the internet through their social media, they will attract clients and make a million dollars. NOT!
Think about it for a minute.
If you have a plan, then you have a way to get clients and once you get clients, you have money, and then you can have a marketing budget. NOT!
How are you going to target your market? Who is your market? Will they buy what you offer? How much are you going to charge for your "stuff"? What can you do to be successful in your business?
These are questions that I hear on a daily basis.
It is kind of like "which comes first, the chicken or the egg?"
First comes the business plan or a good marketing plan.
Second comes the budget that includes a marketing budget.
To get started, the money must be in place. You will need at least six months of cash on hand to keep you afloat in order to make your business a success. The first thing I do with my business clients is ask them about their money. Then we set up a simple 12 month cash flow projection for them. It is amazing how revealing this simple task is. The business owners are always astounded when they see all the things they didn't think of for their marketing plan.
Third comes your target market.
If you have put hard work into your research and know your potential market, what they want, what they will pay money for, and how much they will pay for it, you have the basics in place.
Having all these things in place will be even more powerful with a Business Coach. Don't try to be a lone wolf and go it alone. You cannot go it alone and be as successful as you can be with the assistance you receive from a coach.
These are the things that have inspired us to launch our Marketing series dealing with marketing from the inside out, and how to develop your own unique brand.
The series begins on March 8th and the last episode is June 14th.
Sign up today!
Registration ends Noon on Tuesday, March 8th