Marketing 101: Business Success Depends on Inputs and Processes

As the title suggests there are four essential “inputs” required for excellent marketing, which when combined with your actions, can literally make, or break, your business. They are:

1. Mindset:  Your philosophies, attitudes and beliefs...

2. Assets: Your resources – time, money, people, machines, systems

3. Skills: Your talents - financial, managerial, technical, etc.

4. Knowledge: Your facts and figures – information on your company, competitors, marketplace, industry, customers, prospects, products and services, etc.

Additionally, you’ll want to make sure that the system you use to develop your processes is reliable.  My partner and I use a simple and effective model that we’ve “PETE.” It is a variation of the famous “Plan, Do, Check” quality control system that Dr. W. Edwards Deming introduced to the Japanese after World War II.  It contains four elements, which are:

1. Planning: Forethought and decisions of key strategies and tactics

2. Executing: Implementing the plan

3. Tracking: Benchmarks and methods for measuring success

4. Evaluating: Analyzing the results and adjusting accordingly In our book, “The Procrastinator’s Guide to Marketing” (November 2007, Entrepreneur Press) we illustrate how this circular system works. 

Basically, it entails building and executing a plan; tracking, measuring and analyzing results; amending the original plan; implementing the changes; tracking, measuring and analyzing those results, and so on.  It does not start and stop. It’s continual- as is marketing your business.A good way to begin assessing your own inputs and processes is by asking yourself questions, such as:

• Am I really ready to take control of my own business or grow someone else’s? 
• Am I certain that my existing loyal customers will follow me anywhere?
• Do I have what it takes to make millions?
• How does my industry experience and expertise compare with others in my field?
• What education, observations or experiences make me qualified to effectively manage…

- Marketing and public relations?

-Advertising?

-Lead generation and conversion?

-Product development?

-Finances?

-Internet marketing?

-Website development?

-Human resources?

-Data management

-Business systems?

What do I know about my:

-Industry?

-Competitors?

-Prospects?

-My community?

Your ability to answer these, and other vital questions, will determine the quality of your “inputs,” and ability to reach your goals. In the following chapters we’ll go into great detail on things you can do to improve in each of these areas.