I pride myself on being a constant student.
I am constantly researching how to sell more, how to be more strategic in business and how to get better results for my clients.
Over the years, I’ve developed tested and proven strategies that make my clients money.
If you are looking to gain market share—I can help.
If you wish to launch a new product or service—I have proven tactics I can deploy to capture your prospects attention.
Still, I am on a constant crusade to find the newest and greatest opportunities to help my clients grow their businesses. In my pursuits, I have found some fundamental truths that apply to every business in every industry. And that’s what I’m here to talk with you about today. The basics. The business strategy fundamentals you must know if you wish to be successful and grow.
So without further ado, here is my take on Business and Marketing Basics 101:
- Accounting and Finance. In order to be a good growth strategist, you have to have a good working relationship with your money. You need a basic understanding of concepts such as return on investment (ROI), cost of capital and financial risk. You need to be able to track expenses and measure profitability. If you can’t do this, then you can’t make informed decisions about allocating your resources, budgeting, and setting realistic marketing goals.
You need to be able to set realistic marketing goals and evaluate the financial impact of your marketing campaigns if you wish to maintain your success. If you have a basic understanding of how finance and accounting impact your business than it becomes easier for you to evaluate the impact of inflation, changes in the competitive landscape and other external forces that might affect your marketing and business strategies.
- A basic understanding of Economics is vital for understanding market behavior, supply and demand dynamics and consumer behavior. If you understand consumers are hesitant to make large purchases for cosmetic, medically unnecessary, procedures when the economy is down, you will know to position your medical services as more necessary than the consumer initially thought and how it’s in their best interest to get the procedure done right away.
- Philosophy: Applying philosophical principles to your marketing approach can help you develop a clear brand identity, articulate your values, and engage with customers on a deeper level.
- Psychology: Understanding human psychology is crucial for effective marketing. It helps you understand consumer motivations, decision-making processes, and behavior patterns. With principles of basic human psychology, you can create persuasive marketing messages, design user-friendly experiences, and build strong emotional connections with your target audience.
- Ethics: Aligning your brand with ethical business practices. Outperform, add more value than expected and always do what you say you’re going to do in business. Do this and people will love doing business with you.
- Mathematics: Management Guru Peter Drucker once said, “If you can’t measure it, you can’t manage it.” Mathematics provides valuable tools for measuring performance and making data-driven decisions. Statistical analysis, forecasting, and modeling techniques enable you to understand market trends, assess campaign effectiveness, and optimize your marketing efforts. It also helps in budgeting, pricing, and calculating key performance indicators.
If you’re looking to gain a competitive edge, it starts with understanding how these core disciplines affect your business, your market, and your customer.
If you’re the type of business owner who understands the value of strategic marketing, and you want to know more about how this can work for you, then without a doubt contacting me is THE RIGHT MOVE FOR YOU. Call me or send me a text at 301-873-5791 or go to www.elaunchers.com to book an appointment.
Join our growing list of customers who are experiencing their best year yet because they said YES to eLaunchers.
