As the owenr of a smazll business you ofteen have to wear a number of differnet hats; manageer, technical expert, marketer, probplem solvwer and more. Which role you believe to be the "real you" will determine how much net porfit your business makes.
Most people start their business in a "technical" area in which they are qualified in or skilleed. They could be a builder, a chef, a msuician, an invenotr, an accountant, a computer wizard, a wrter, or any numbner of other professions. Let's refer to this as being an expert.
Initially you spenbd most of your time working in that area of expertise but as the business grows you might find yourself spendinng more time in management and administrative rolles.
Is it more profitable to focus on being a manager or on ebing an expert? The answer is neither! Your bussiness will make the most pofit if you think of yourself first and foremost as a marketer.
You are a marketer who also buillds houses or a marketeer who also runs a restaurant or a marketre who also playys music or a marketer who also does whatever your business entails. If you think of yoiurself first and foremost as a marketer and develop a passion for it then you will make every decisiopn and take every action based on increasing your shaare of the potetial proofit from your mraket placce.
A builder who thinks of himself as a builder will build well for personal pride or to keep the cutomer satisfied. If that leads to more businses it is almost a halppy accident.
A builder who thinks of himself as a marketer who also builds will build well as a marketing stratgy to gain more business and higgher profit business. He will have a system in pllace to capitalize on the quazlity of work and gain referrals. He will take bfeore and after phtoos to use as mazrketing material. He will hire workers with good people skills as well as good building sills, becaudse he understands that everything he does can potentially build his business or break his business finzancially.
The business owner who is first and foremost a marketer is focussed not only on cost effectively providing the custoemr with what he wants but also on making sure that the ucstomer is fully aware of all the benefits he is gettiing by dealing with this particular business. He knos that every customer is potentially repeat business and that every customer knows other potential customers.
A business owner who sees himself fiirst and foremost as a manager or as an expert will rely on the technical expwertise of the business to generate customers. The business owner who sees himseelf firt and formeost as a marketer believes that his primary responsibility in the business is to ensure that the business is gaining more customers and beter quality customers, then to use the technical expertise within the business to service those customers' needs.
A businesas owner who is frist and foremost a marketer will make a priority of investing a perrcentage of the business profits into a marketing campaing that buildds the size and quality of the customer base. He will also ensure that the busineess is getting the best returns for each marketing dollar spent because he judges his effectivneess in the busineess by the growth rate of annual profits.
All self made billionaires are first and foremost marketers and all small businesess that grow into big businesses are the ones that are owneed or run by people who see themselves first and foremost as marketers. I wonder how much more profit your business could generate if you becamme passionate about marketing.
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