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2 Big Mistakes Entrepreneurs Make In Marketing Their Business
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2 Big Mistakes Entrepreneurs Make In Marketing their Business

Among many other errors entrepreneurs do when it comes to their marketing strategy, there are two big mistakes which you have to pay close attention to and avoid from the beginning.

These mistakes are probably two of the main reasons of so many businesses’ failures.

First and most frequent mistake is to try to be everything to everybody.

The prerequisite of every business to exist is making the first sales. Selling the first product or service is the critical moment when a business is born.

That’s why many entrepreneurs get obsessed on selling. At the beginning they try different products and services to see what goes better and then, instead of sticking to one line or category and focus on it, they continue to go after opportunities to sell more.

They don’t want to lose any customer and any occasion to make a sale.

But trying to be everything to everybody is the worse strategy a company – big or small – could embark on.

One of the most important factors of business success is to focus and stick to what the company can do best and serve primarily the most profitable group of customers. Otherwise, the organization risk to spread too much its resources and to ultimately offer a poor service which drives away its most important customers.

The second mistake is assuming what customers might need or would like to buy instead of researching what they really need or desire.

A business lives and grows only through its customers. Serving always better its target customers must be the ultimate goal any entrepreneur should focus on.

The achievement of any other business goal the organization might fix depends on how is accomplished this ultimate goal. And better serving the most important customers depends on how the business communicates and relates to its core target.

One of the most important roles of marketing is to communicate the offer to the prospects, but this communication needs to be a dialog, not just a sales pitch.

Internet opened up new ways of interaction between different entities. The means companies have to communicate with their customers are easier and cheaper than ever.

Researching for customers’ needs, opinions and expectations is now easy to do. There is a lot of information we can gather just by asking our prospects what their problems and desires are. And then, by coming up with offers designed based on these findings, we can naturally become the supplier of their choice.

After all, being focused on the people we can serve best and in the most profitable way, and developing a caring and honest relationship with them is much easier to do then trying to make a lot of unnecessary things and working to develop products and services no one will buy.

Street Talk

Nice article and very true. Focus is key.

  about 1 decade ago

Great article, I agree with your points here and I have the scares to prove these mistakes will ruin your business. Thank you

  about 1 decade ago
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