After a year or ten at the helm of your business, you’re wondering where to go next. What was a challenging, rewarding experience with new leads and new products every quarter has become a grind. You’re putting in the hours, but where’s the payoff? You have an exit plan, but how do you get there?
Franklin D. Roosevelt famously said ‘the only thing we have to fear, is fear itself.’ This couldn’t be more true when it comes to business and marketing. Although fear can hold us back in all walks of life, in business, fear is anathema. It stifles growth, has a detrimental effect on profits and can ultimately result in the thing we fear most in the first place: failure. In order to implement a powerful marketing strategy and reach your true business potential, it’s crucial to overcome these fears. Here’s what ‘marketing fear’ looks like, how it’s holding you back, and how you can overcome it.
Without a goal, it’s impossible to score. Businesses survive and thrive by offering value; by solving customers’ problems. Too often, that’s the problem, however. When we begin working with them, most businesses don’t understand their customers’ pain points and – even worse – don’t know who their most valuable customers are. Meanwhile, those with a clear picture of their customers’ needs, concerns and attitudes can find more of their target customers – boosting their sales and empowering their business to survive the marketplace challenges that threaten them and their competitors.
Running a business is a bit like surfing; you have to ride the waves as they hit or risk going under. This is especially true when it comes to navigating market forces. Flexible, dynamic and unpredictable markets have the power to swiftly impact your business. Remember record stores? There was a time when it was hard to imagine a town centre without an HMV or Virgin Megastore, but now they’re a rare sight. For both businesses, the market changed to a degree which meant they simply couldn’t survive in their previous form.
Company culture provokes much discussion: over what it is, and how best to create and encourage it. Best practice often leads us to Google, which rarely seems to be out of the ‘top places to work’ lists, with its free meals, massages and dry cleaning.