For those who dream of escaping cubicles to pursue a passion, drafting a business plan is the first step. One of your plan’s most critical elements is your marketing strategy. Too often, people don’t think through that all-important component with the same rigor they tackle aspects like projected cash flow and long-term goals.
Or, they do put thought and effort into planning for market research, promotion and positioning — and then never follow through on their great ideas.
One problem is that most entrepreneurs don’t have marketing experience. They may be skilled tradesmen, savvy financial advisers or talented writers — expert in the niche they plan to build their business around — but they’re not marketers. Some don’t realize that executing a solid marketing strategy is essential to any venture’s success. Others know it’s important but don’t know where to begin.
Written by MARSHA FRIEDMAN
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