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Category Archives: Marketing

Feast or Famine on Sales

By | Business By The Book, Growing a Business, Growth Strategy, Marketing, Sales, Sales, Sales & Marketing, Social Media | No Comments
Juggling Priorities

Q: I find myself really struggling right now to maintain an even level of sales. My work seems to come in chunks and by the time I’m finishing up, I have to jump back into sales mode and it always takes me a month or two to rebuild enough momentum to bring in more sales. I’m not sure if you can help or not, but any advice would be appreciated. A: What you are wrestling with is the classic dilemma of a small owner/operator that is both selling the service and delivering the service. It is very difficult to do both…

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To Train Up an Entrepreneur

By | Business By The Book, Landing Your First Customer, Leadership, Marketing, Sales, Starting a Part Time Business | No Comments
To Train up an Entrepreneur

We met Andy years ago when we lived in Minnesota. At the time, my wife was pregnant with our first child and whenever she pulled into the driveway, 10-year old Andy bounded over from next door to help her carry the groceries. His normal practice was to race her to open the door before she had a chance to open it for herself. He had also volunteered to shovel the snow from our sidewalk. Andy and his family had just moved in as our next door neighbors, but he had already captured the heart of my dear wife. He was…

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Defining Customer Segments

By | Business By The Book, Customer Relationship Management, Marketing, Planning, Sales, Sales & Marketing | No Comments
Customer SegmentationQ: What exactly are "customer segments" />

Q: What exactly are “customer segments”? A: Customer segmentation is the analysis of your customer base along several dimensions such as: Geography Size of the customer (the size of their organization) Type of customer Size of the customer relationship (how much they buy from you) Type of customer relationship Profitability of the customer Demographics of the customer (such as age, income, marital status and presence of children for consumer customers) Psychographics of the customer (such how the product makes them feel, what they are trying to achieve by using the service, etc.). Once the above analysis is done, then look…

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The Importance of Google for Your Business

By | Advertising, Business By The Book, Growth Strategy, Marketing, Marketing, Sales & Marketing, Search Engine Optimization | No Comments
The Importance of Google to Your Business

If you were ever wondering about how important search engines – and Google in particular – are to your business, check out these facts: 70% of web searches start at Google 89% of all clicks come from Google’s first search page 84% of people use the web to look for local businesses Add the behavior reality that very few Google searchers scan below the fold (the “fold” is the amount of search results that can be seen at the top of the search returns in your browser without scrolling down). And even far fewer searchers, ever click to the second,…

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Venture Academy Video Excerpt: Service Distinctiveness

By | Advertising, Branding, Business By The Book, Business Communications, Coming Up with an Idea, Customer Relationship Management, Growing a Business, Marketing, Organization & Strategy, Sales | No Comments

This video provides insight into the necessity of having a distinctive service relative to competitors:     This video is just 1 of nearly 200 videos available with a Venture Academy subscription and is excerpted from the Sales and Marketing section.

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Starting Your Business – Part 4

By | Business By The Book, Channels and Alliances, Creating a Financial Model, Marketing, Planning, Uncategorized | No Comments

In the initial post in this series, I suggested a step-by-step process for launching a business. This post will focus on the first post of two posts on Step 4 – Launch, where we lay out the requirements to fully launch the opportunity you’ve decided to pursue. (See Part 2 and Part 3 for other posts on the process). Launching the Best Opportunity  In this phase, you are prepared to launch the best opportunity that was fully vetted in the earlier steps of Define, Generate, and Evaluate. If the idea passed your evaluation criteria with flying colors in Step 3 – Evaluate, you should have full confidence to move forward…

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How to Make the Most of an Idea Without Any Money

By | Business By The Book, Channels and Alliances, Intellectual Property, Marketing, Planning, Selling Your Idea or Invention | No Comments

Q: I have a patent pending on a new type of commercial resistance exercise machine. Here’s the problem: I don’t have the money to get a prototype built. I know what I have here, but I have no money to pay for anything. My desire is to start a small manufacturing company after the product has been tested in fitness centers. I could simply sell the rights to this for royalties, but starting a small manufacturing company (and surrounding myself with a lot of people who are experienced in the field, including management) is what I want to do as I…

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3-ways-to-avoid-confusing-market

Three Ways to Avoid Confusing the Market with a New Product Launch

By | Advertising, Branding, Business By The Book, Customer Relationship Management, Landing Your First Customer, Marketing, Marketing, Sales | No Comments

The Netbook launch in 2007, which introduced a smaller, cheaper web-browsing computing device with fewer features than a laptop, is a case in point of poor alignment between what consumers want, what they thought they bought and what they actually got. It stems from core marketing issues of the lack of i) proper market research, ii) proper product positioning and iii) proper marketing messaging. Post-launch research revealed the following issues with the new Netbooks based upon extensive consumer survey of 600 Netbook purchasers: “60 percent of consumers who purchased a netbook instead of a notebook thought their netbooks would have the…

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internet-biz-model

Internet Business Models Explained

By | Business By The Book, Coming Up with an Idea, Internet and Mobile Strategy, Marketing, Organization & Strategy, Tech | No Comments

Q: I have a few quick questions for you. Since you’ve had experience with dot-com businesses, in your opinion: Are dot-com businesses (like for instance NetFlix) still viable business ideas? From idea conception to sustainable profit, for dot-com businesses, what amount of capital and time is usually required (assuming that they are good enough ideas to succeed)? What kind of internet business models are there? A: Like any business, an internet business can be all over the map in terms of its viability, capital and time required. An internet business is still a “business”, it just happens to use an internet channel…

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How To Get Sales and Marketing Experience Prior to a Startup

By | Business By The Book, Channels and Alliances, Landing Your First Customer, Marketing, Marketing, Sales, Sales | No Comments

Q: It is quite apparent to me from reading through your site and listening to your presentations, that sales and marketing skills are essential for an entrepreneur. I am a young man without any experience in sales and marketing and I am curious what you might suggest for someone in my position. A: You are correct in that I strongly believe that sales and marketing is the most important skill in an entrepreneur. Of course there are other important factors such as the opportunity you are pursuing, your character, God’s providence, etc., but the most important skill for an entrepreneur is the…

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