Business | Financial |
Marketing | Project | Tactical
The single largest reason for the demise of most smaller businesses is too rapid a growth curve. Much of the problem stems from the inability to focus on a clear and precise strategy and to implement that strategy consistently.
You have a great product or service and the opportunities and ideas bubble out of your meetings, your customers, your vendors, your friends. Without a thoughtfully designed plan, you run the risk of spreading your valuable resources of time and money too thinly over all those "great" ideas—without sufficient resources to complete any one of them.
By clearly looking at each market, each marketing strategy, and each marketing vehicle as it relates to each product, you can make more informed decisions that will result in the profitability that will, in turn, allow you to go after the next great idea.
Most successful companies have mastered the use of the word "no" or "not yet."
NOTE: A good marketing plan, like a good business plan, is revisited at least once a year. In fast moving industries more frequent revisions can be more appropriate.
At the Institute, we work as a facilitator or coach to companies in this process to help them elicit all the great opportunities, and then set their priorities in a way that will generate the greatest results in the the most effective time frame.