Marketing Strategies to Consider
Damon Brown (author of the Bite-Sized Entrepreneur series)
Costco Connection (May 2017, p. 11)
Article summary
In an article for Costco Connection, Brown listed 4 strategies to use to “transition from vision to reality” (pg. 11) with a new business:
1. Know what you can do on your own.
“Sweat equity is the best equity”: starting a new business is challenging on many levels (demands on time, on finances, on knowledge, etc.); do the work yourself and get support from your network.
2. Figure out your runway.
Determine how many resources you have and how long your business can continue with those resources - assume that it may take twice as long and cost three times as much as you think.
3. Describe your ideal customer.
“Saying ‘everyone’ sounds ambitious, but it is a trap: Be as specific as possible. Your messaging, from the business website to the business cards, should be built to attract this ideal customer. And if you know your customer, you can figure out where and how to reach them.”
4. Create milestones from little to big.
Start with your final big vision, and work back from there. Formulate smaller steps of achievement. “By having regular, achievable milestones, you’ll be able to make bite-sized, steady progress while minimizing frustration.”
- Submitted by Carol C. Robinson, Executive Coach for Entrepreneurs and Intrapreneurs
Damon Brown (author of the Bite-Sized Entrepreneur series)
Costco Connection (May 2017, p. 11)
Article summary
In an article for Costco Connection, Brown listed 4 strategies to use to “transition from vision to reality” (pg. 11) with a new business:
1. Know what you can do on your own.
“Sweat equity is the best equity”: starting a new business is challenging on many levels (demands on time, on finances, on knowledge, etc.); do the work yourself and get support from your network.
2. Figure out your runway.
Determine how many resources you have and how long your business can continue with those resources - assume that it may take twice as long and cost three times as much as you think.
3. Describe your ideal customer.
“Saying ‘everyone’ sounds ambitious, but it is a trap: Be as specific as possible. Your messaging, from the business website to the business cards, should be built to attract this ideal customer. And if you know your customer, you can figure out where and how to reach them.”
4. Create milestones from little to big.
Start with your final big vision, and work back from there. Formulate smaller steps of achievement. “By having regular, achievable milestones, you’ll be able to make bite-sized, steady progress while minimizing frustration.”
- Submitted by Carol C. Robinson, Executive Coach for Entrepreneurs and Intrapreneurs