Dear Entrepreneur:
Several weeks ago you sent me an email requesting “…assistance in sales and marketing.” You also put me on notice that “We are only interested in spending money on things that will directly help us get sales.” Fair enough.
I called and learned that you and a partner have developed a new application for RFID technology, but you had no idea how to sell it. As I needed much more information to address your problem adequately, I offered to have a no-cost, face-to-face discussion. You resisted this idea but eventually (and reluctantly) agreed, asking me to email the kind of the information I required so you could prepare. I did so and you promptly responded with answers that, of course, only scratched the surface. I replied that, based on your answers, I had some short-term ideas, but wanted to meet to work out if they were on target, and to discuss long-term marketing strategies. I never heard from you again.
My friend, I’ve worked with a number of start-up companies and started a few of my own, so I certainly understand your urgent desire to generate revenue. However you’re at a critical point in your development and because, by your own admission, you and your partner know nothing about marketing, your reluctance to invest a few hours in free conversation with someone capable and willing to help you mystifies me.
Perhaps you waited until the 11th hour to reach out for help. Maybe you’re approaching Desperation Gulch. Or maybe you’ve since latched onto some quick-fix scheme. It’s possible you just got lucky. I don’t know the answer, because you haven’t responded. But here is what I do know:
1) Whether you’re a start-up or an established enterprise, marketing is an ongoing process, not a magic bullet. You have to develop a plan with goals, strategies and action steps that make sense for the nature of your business today, and what you want it to be in the future. It doesn’t have to be a comprehensive tome. Many start-ups make do with a 1 – 2 page document. What’s important is the quality of thinking that leads to this marketing blueprint.
2) Developing a new use for a technology like RFID is pretty exciting. However, if you haven’t determined which markets actually have a need for what you’re selling and are willing to pay for it, you could be all dressed up with nowhere to go.
3) If you’re confident that you’ve identified markets that recognize the value of your product and have the resources to buy it, you need to understand the buying process and learn who makes or influences the buying decisions for these organizations. Otherwise you’ll waste a lot of time and money chasing sales that may never come to fruition. And, yes, even a blind pig will find the odd truffle, but at what cost?
4) Successful entrepreneurs understand the value of networking and building long-term, meaningful relationships with customers, employees, suppliers and advisors. You see, all the people we meet, either by themselves or through their connections, may someday be in a position to do us a world of good (think: Six Degrees of Separation). However, being human, they’re inclined to offer help to those they know, like and trust. When you break that trust by not acting professionally, you risk closing the door to many opportunities.
There’s more I could say, but let’s leave it at this: I truly hope that you find great success with your new endeavor. Further, I hope you learn that true success in all things involves giving, as well as getting. And sometimes all that you need to give is a little respect.
