If you’re in your twenties you’re probably thinking I am talking about sex with a headline like that, but the truth is I’m talking about marketing and advertising. As entrepreneurs we have all launched products or services thinking that they will be a success, but many fail. There can be many different reasons behind this from manufacturing problems to bad ideas but many times the basic idea is very good it just needs more time. If you have ever watched the shows Dragon’s Den or Shark Tank you will see why some ideas are successful and some are just awful. Where most of us fall down is in the marketing of the product or service. On the shows they always ask about the sales to date. Many of these entrepreneurs are just getting started and just don’t have the track record yet for a deal.
I have seen many people give up before their product caught any traction. Many times we are trying to keep up with the guy next door who launched a billion dollar company off his office couch and we think we have to do the same. The secret is knowing how you are launching the product. If you don’t have the funds to advertise the product on a television campaign or radio spot, or do a huge mailing to the public you will have to market it long term. Marketing is not advertising. Marketing is what you do long term such as having a website, handing out business cards, networking, or handing out promotional products. Advertising is a shorter campaign that usually cost quite a bit more and gets the product information out to many people at once. Many entrepreneurs have to settle for marketing our product over the long term therefore it will take much longer to get traction. As long as you understand that at the beginning you won’t be so tempted to trash the ideas when you don’t see immediate results. It may take a couple of years for things to grab any traction. Putting it up on Facebook on your wall is not going to make the masses stampede to your door. So when promoting your product or service realize what program you’re on and you will feel better about the general success of the product.
About the Author
Bruce Outridge is a business and leadership consultant. He operates three businesses ranging from the arts to transportation. For more information on Bruce and his work visit his website at www.outridge.ca