You probably didn’t realize when you started your new business that marketing would become one of your major responsibilities. Many people think that the world is just waiting for their good ideas. Simply present your idea to that special company and they will immediately want to grab it.
Sorry folks, that doesn’t happen. Unless you have the newest hula- hoop, you will have to work hard to get business. For each product you want to introduce to that special company there are a hundred other people waiting in the wings to present their great ideas.
It is up to you to know what that company is looking for and what direction they are heading in the future.
Recently a friend of mine had a great idea for a method of videotaping photographs. It was truly a great idea and I fully supported it. We tried to market the idea to major companies in the photography business.
What we didn’t take into consideration was how important digital imaging would become to these companies.
The idea was a good one and I am sure that many consumers would want to have one of these machines. However, the major thrust of the development dollars of the companies we approached was going to be invested in digital imaging and as you can see from today’s market, it has paid off for most of them.
There are always good ideas. There might always be the right company or the right market for your idea. It is up to you to find out who and where they are.
I read hundreds of magazines every month and have for most of my life. I want to know what is going on in the markets I am currently working in and who has money to spend for the next projects I will do.
Sometimes I get a good idea from something I read. Sometimes I read about a product I have worked on in the past and get a lead that might turn into a new contract.
I might see an opportunity for a speaking engagement or an announcement of a conference in a field of interest to me.
As an entrepreneur you have to work harder to stay current in your field. If you think your business can survive forever on what you knew when you started, I think you will learn a hard lesson.
Services become obsolete and you don’t want to sink to the bottom of the barrel.
Think of last month’s computer – outdated. Think of last year’s great ideas on the Internet that are now on the scrap heap.
Learn not only who your competition is but constantly learn new things. Talk to everyone you meet about your business, their business, and how they operate. Even if you are in different fields, there are similarities that you can share.
I have learned that like their children, entrepreneurs love to talk about their businesses…so learn from them!
Article © Copyright 2001 Stanley I. Mason. Syndicated by Paradigm News, Inc.
