I am sure when you saw the title of this article you immediately thought I was talking about email. After all, I am THE technology guy, right?
Success Needs Sufficient Capital Resources
To succeed in business, you need sufficient capital resources. In fact, it is said that the number one source of failure for small business is running out of money.
If you do not have a realistic assessment of the money that is needed to implement your business plan, you run the risk of running out of money. If you run out of money, your business may likely fail. Failure to have a realistic understanding of the amount of money that is required for the business overall and to implement certain new ventures, particularly, can lead to ruin.
Failing to have adequate money for the business can be a mistake.
11 Promoting Traffic at the Expense of Profitability
Seeking to establish themselves in a new market, some companies may emphasize customer traffic—to the exclusion of whether they make any money on those so-called customers.
As Peter Drucker has observed, it is a fundamental business truth that the purpose of business is to create and retain a customer. But if you do not make any money on your customers, you do not have a business. Generating traffic without revenue and profitable customer transactions is a sure way to financial ruin. This lesson was relearned by many dot-com technology companies in the 1990s, who promoted traffic to their websites but failed to establish a viable business model. Numerous dot-com companies that failed did not sufficiently understand that, at the end of the day, maximizing hits is much less important than generating revenues in amounts more than the expenses incurred in
achieving those revenues, so that the business can make a profit and sustain itself.
Promoting customer traffic at the expense of good business is a mistake.
1 Strategic Incongruency
Strategy, to be effective, must be congruent.
If balance and consistency between different parts of the business strategy are lacking, the resulting incongruence compromises the prospects of business success. Strategy congruency means that there is a reasonable connection between one part of a strategy and another part of a strategy. The purposes of one part of the enterprise are complementary to those of another part of the enterprise. The goals of one division are supportive of, and in parallel with, the goals of another division.
In Lewis Carroll’s classic book, Through the Looking Glass, the Red Queen prophetically informs Alice, “You must run as fast as you can just to stay in the same place. If you want to get ahead, you must run at least twice as fast.” Today, however, even running as fast as you can will not necessarily allow you to stay in the same place. To cope with and prevail in the challenges of life today, you need an effective strategy. You need either to do what you did before—very, very well—or to do something differently.
Do you own your own business or does it own you?
If you're ready to take back control of your life, kick the crap out of your way, shorten your learning curve, design your own version of success and declare your entrepreneurial independence, you’re in the right place. Welcome to Destination: FREEDOM.
Who’s heart couldn’t melt at the sight of a smiling baby? Their feather-soft skin, tiny feet and hands, and oh, that beautiful smile is enough to make you want to cuddle it all day. But did you know that feeding your baby can cause brand-new teeth to rot? This type of dental disaster is all too common.
Everyone on the planet is concerned about their future. Some consider tomorrow their future, thinking only one day at a time for survival. Others think about their futures in decades, while still others deal only in months or weeks. The future is a funny thing, as it has unlimited meanings.
I think this next statement is a bit off-putting, but I’m not making fun of it. When I was researching some of the other experts speaking about conversion headaches, the first site to pop up was Harvard Medical School. I learned that there is such an illness known as “conversion headaches (conversion disorder).”
But that’s not at all about what this article is built. Lead conversion is the topic. Removing the roadblocks, constraints, frustration, ambiguity, and headaches that come when your lead to customer conversion isn’t doing well.
What Makes Authority Marketing Work
The other day I laid out some answers to What Makes Authority Marketing Work and we discussed the viewpoints of three people that have written books on Selling to the Affluent, and that of Authority. I chose them because of the titles of their books, and the fact that both Kennedy, Witty and Shelton are figures often in the limelight of our world.