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Vitalis Holdings 2020 #BusinessChallenge

#BusinessChallenge – Week 12

Welcome to Week 12 of our 2020 #BusinessChallenge.

By now, you should be well on your way improving your business and you should have renewed energy to drive your business into the future.

Last week we ended the theme of Cost Cutting and we start this week with Marketing.

Urgh… Marketing… Sales… I hate asking people for business

Yeah, we all do. I don’t know why, but most entrepreneurs hate asking for business. Including me!

But before we start with any type of marketing or sales, even asking potential clients for business, we need to decide 1 important thing.

What do you want to achieve with your marketing?

Why do we always get back to this theme for a question Tiaan?

Yeah we do right?!

The reason is quite simple. When you want to do something new in your business, whether it is expanding to another location or targeting a new customer base or anything else, you MUST first determine what you want to achieve by this decision.

This you must do long before you determine what the steps or tactics are that will get you to where you want to be.

Nothing in business can be done “just because”. Doing things in business “just because” is the easiest path to irrelevance for any business.

Let’s be strategic

Decide what you want to achieve when you market your business.

  • Do you want to increase the exposure of your business (do you want more people to know that you exist)?
  • Do you want to market and sell a specific product or service?
  • Do you want to source new clients from a market you have never sold to before?
  • Do you want to sell more products or services to your existing clients?
  • Do you want to showcase the good you are doing for your community?

What is is that you wish to achieve?

This decision, again, is the most important step before you actually implement any marketing strategy.

As you will learn in the Strategy theme, the definition of what you think Strategy is, is most probably wrong. Strategy is firstly identifying a problem and then finding a solution to that problem.

So you must first identify the purpose for your marketing efforts before you can actually come up with tactics and ideas to implement.

Homework for this week:

Define the different goals you want to achieve with your marketing efforts. Please remember that you can have 1 or 3 or 5 goals with your marketing efforts. You are not limited to only 1 goal.

Having 5 goals implies you have a more detailed approach to identifying what you want to achieve than only having 1 goal.

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