Ed has invested more than three decades into learning how to build successful, thriving businesses. Starting his first business with a $5,000 loan, he created a $36 million organization, within seven years. From there, he went on to create 12 other businesses.Through this life experience, Ed developed the desire (and passion) to share his extensive business knowledge. In 2004, he founded ABEL Business Institute, an education center for business owners seeking expertise on how to create a sustainable and profitable business.
Additionally, Ed is an adjunct professor of entrepreneurial studies at New York University (NYU), business adviser and instructor for NY Designs, part of City University of New York (CUNY) as well as the Director of the business division at the world class Institute for Professional Excellence in Coaching (iPEC).
If you're like most small business owners, you have a basic understanding of marketing and why you need to do it. However, most small business owners these days are forgetting the basic goal that effective marketing will achieve and are reducing their marketing efforts because of an "economic downturn."
The text book definition of marketing is that it is the suite of principles and strategies you use in your business to persuade your target market to contact your business. Simply stated, your marketing must create desire, at minimum a little interest, for your product or service.
Now, of course it takes some work to determine how to create desire for your project or service, but (here's the key), if you don't broadcast your marketing message consistently and on an ongoing basis, your marketing will most certainly fail. Plus, this key will hold true no matter what the current economic environment. Whether the economy is up or it is down; consistent, ongoing marketing will always win over no, little or inconsistent marketing.
Many business owners become overwhelmed with the thought of marketing. Keep this in mind...your marketing doesn't need to be "perfect" or "expensive," it just needs to be consistent and ongoing. "Good enough" is often "good enough." And, just remember this; marginal marketing that is consistent and ongoing is always better than perfect marketing that never makes it out the door!
Action Steps - Follow these steps and you will certainly see results:
- Determine what your customers desire (aka: needs).
- Focus on the benefits of your offering, not the features.
- Start simple and improve over time (remember, good enough is often good enough).
- Continuously Market (no matter what the current economic condition).
Learn more about Business Marketing by listening to this week’s episode of the SkillPreneur Radio Show:
Episode 65: Do You Know Your Client Acquisition Cycle?
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