Do You Want To Know the Secret Of Effective Marketing In Small Business?

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Just Start.

If there is one proven way to have effective marketing and jumpstart growth in your small business, it is: Action over anticipation.

We are wired for taking action – but often only under fear. We all know about the fight or flight response.

But given time, we also have a tendency for “false perfection”.

Why false?

Have you noticed that nature has no pure circles or squares or triangles? They are often oval or rhomboids – slightly bulging at edges.

It is our desire to be perfect hence, we create the perfect circle and squares.

While it is good in science, it is bad in business.

Here’s how:

Being perfect assumes that everything will go exactly as per planned. That whatever is planned will definitely result in the outcome which we want.

Really?

It is said that after the first two chess moves, there are a million options by which the game can turn out. And this only with 64 squares and two players.

Now think of the marketplace with thousands of customers and hundreds of suppliers.

Perfection often leads to analysis paralysis. The need to have a beautiful, logical solution leads to endless debates on the correct step to be taken.

Perfection often leads to analysis paralysis. Click To Tweet

In the end, nothing moves.

I learnt this lesson once.

My boss used to love asking questions. On every campaign, we used to design; he would ask ten questions. Once replied, they would lead to 10 more questions and so on. One day, I decided that I would start it as a pilot project, and we will keep answering his questions. After two months, he asked, “By the way, what happened to that X campaign?” I replied “well, we started as a pilot project and got some good learnings from it and now in a better position to answer your concerns” He paused for a while and then said “you did the right thing. Let’s go national”.

The market and the customer are the best ways to understand whether something works or not.

We can have endless boardroom discussions, but it has no comparison to the rich learnings in the market.

Nothing teaches you better than the marketplace. Click To Tweet

Taking Action does not mean that you launch a half-baked product or dump low-quality stuff in your channels.

Have a testing mindset within the team so that no one is wedded to a particular idea or an approach.

Help the team develop the testing mindset by asking the right questions in meetings.

Run pilot projects, do A/B testing, check in one channel before going national, but Start.

It means beyond a point, stop the endless planning. Just start.

If you have an option between Action and one more round of planning, Just Start Click To Tweet

Check this article for how an owner of a successful online business prioritizes Action over endless debates -> Slideshare CEO

What are You going to Start Today?

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9 Important Steps To Building Ownership Mindset In Your Small Business

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The key to growth in small business is in creating an ownership mindset in your employees.

The key to growth in small business is in creating an ownership mindset in your employees. Click To Tweet

As an entrepreneur, it is evident that you have it. But, how do you build it in your people? Here’re some steps

Continue reading “9 Important Steps To Building Ownership Mindset In Your Small Business”

Did You Know The Shocking Truth Of Successful Entrepreneurs?

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Successful Entrepreneurs don’t take risks.

Yes, you read correctly. They infact go to lengths to reduce risks.

I was shocked too when I read this article by Malcolm Gladwell (Best Selling Author of Outliers, Tipping Point, David vs Goliath) -> http://bit.ly/XHVvNO

Gladwell makes a persuasive case through couple of high profile examples like Ted Turner and John Paulson (Big Short Fame) of how they intentionally keep the risks lower so that they increase the chances of their success. He goes on to overturn commonly held beliefs around risk and their downsides.

The article persuaded me. Here’s four reasons why?

Continue reading “Did You Know The Shocking Truth Of Successful Entrepreneurs?”

Why you need a testing mindset?

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We all know the storyTesting mindset of Thomas Edison and how he made 1000 trials before he got it right and made the light bulb. Once a journalist asked him “what do you have to say about the 999 times you failed? Edison answered, “I learnt 999 ways Not to make a lightbulb.”

We know that Edison was a very shrewd businessman too.

What does this example mean to you?

For me, it shows the importance of a testing mindset. It shows the need to accept failures as a learning ground.

What happens if we don’t? A board room turns into a contest of blames rather than a hotbed of ideas.

What is a testing mindset?

Continue reading “Why you need a testing mindset?”

Do One Thing

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“If a thing is worth doing, then it is worth doing well.”

If a thing is worth doing, then it is worth doing well. Click To Tweet

We often hear this. Then, why is it that, when it comes to our business we tend to get scattered?

Have you walked out of a meeting where a ton of initiatives have been thrown, all exciting, project maps worked out and you are all fired up? 6 months later, you find you are nowhere and all the initiatives are only taking time and not making any money?

I have been in a major initiative where there were 42 initiatives running at the same time. Yes 42! I still remember the painful meeting reviews where nothing was progressing and everyone’s nerves were frayed. Only pet projects were moving and the impact of those on business was still debatable.

I was high strung, as so much time was invested and very little was achieved.

Against this, I remember we were in the midst of transition of a Free to Air Television to a subscription channel. It was a mammoth project involving satellites, people on the ground, advertisers, the works. But, since the objective was only one, all the moving parts were clearly aligned to one objective. And if they were not, they were ruthlessly weeded out.

The Lesson is very clear: Do one thing but do it very well.

Having one initiative at a time, makes sure that all the parts in the organization are focused on delivering it. Remember for a lot of people this itself is extra work. For the production or service delivery guy or sales guy on the ground, this is one more item he needs to finish every day. All this within the same time available and with no respite on the daily deliverables.

Having one project makes sure that to each and every person, you are delivering only one message. This helps every one know what is most important to you and to the business.

It brings in speed and ruthless efficiency. It acts as a building block to the organization on which future success is built.

Do one thing but do it really well Click To Tweet

What action do you need to take to bring this focus? What would stop you to bring this focus?

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