Successful Small Businesses Focus on Profits
Marketing success is measured by profits and how they are increased. Why else do small business entrepreneurs exist? Successful entrepreneurs measure profits every month, quarter and year. They compare them to last years results to see if they are on the right path. But it takes skills and non-stop effort to succeed. What are those skills? How do we position our businesses to take advantage of our marketplace?
Focus on What You Do Best and Be the Best at It
Sounds pretty simple doesn’t it? Well it is when we are starting out but we tend to get ahead of ourselves by branching out too much. We wake up one morning and say “Hey that’s not what I intended to do when I started this business”.
If we start a small vegetable stand on the corner of a busy highway we might decide that in addition to vegetables we should try to sell fruit, hanging baskets, bread, jellies, pine straw and a myriad of items to make the best use of our business. But what we really do is create a hodgepodge of unrelated items with different profits which tend to go down as we concentrate on another different product. Before you know it your not sure what business you are in any more.
Sound familiar? I think you will agree that we need to concentrate our focus on what we do best and be the best at it. Then you can make relevant decisions that lead to increased profits because you have focused on all details of the business.
Marketing Plans for Making More Profits
Every small business must have a marketing plan. A blueprint of the business that helps to show the path to increased profits. Focus your businesses marketing on a central idea that you believe in with all your heart. This is were you start. Describe your value proposition so you have a clear idea of what your business needs to do to achieve massive profits. Then when your business is focused you can make strategic decisions to bring life to the business. A small business needs more then an idea it needs an all encompassing strategy focused on its value proposition.
As we develop our marketing plan it is good to keep in mind that successful marketing starts with a quality product or service. One that saves time and or money. That’s what attracts prospects. You see every one has finite amounts of time and money so any savings translates into increased benefits for your prospect. Makes sense right?
Develop a Strategy to Follow
Now we can develop a strategy that shows us the path to follow to profits. If we know who our customers or prospects are we can make a judgment on what benefits attracts these customers and prospects enabling us to increase revenues that in turn lead to increased profits by providing those benefits.
Once a strategy is developed we can initiate tactics to bring our vision to life. Tactics are task needed to complete strategic initiatives. Once in place they needed to be monitored and tweaked so the business successfully creates profits to make the business a success.
If you put these ideas in motion you will see your success start to generated the much needed profits. Its like a pipeline that starts to dribble, then stream income to meet your budget demands.