What is the Most Important Function in your Business?

What is the Most Important Function in your Business?

In his book E-Myth, author Michael Gerber shares why so many small business owners have trouble growing their businesses. Basically, Michael states that most entrepreneurs start a business because they are a technician, and they only enjoy the part of the business they perform well. He also explains that they don’t understand the basic truth that the small business owners need to be involved in the business of the goods or services they offer.

There is the difference between the business of law and the practice of law, or the business of being an accountant and the practice of being an accountant. You are already a good technician, now you need to perfect the practice of being a good technician!

That being said, you need to take a look at outsourcing some of the functions of the business. The top 5 functions that most businesses outsource are:

  1. Legal
  2. Accounting
  3. HR-Payroll
  4. IT
  5. Marketing
Even if your business is one of the functions mentioned above, you still need advice and coaching in your particular practice. Even Tiger Woods has a coach!

So what is the most important function of any business?

Arguably MARKETING/SALES and INNOVATION. I would love to talk about innovation but I don’t know your companies’ goods or services. Systematic Marketing/Sales Campaigns cut across all industries. Everyone needs to sell!

So what is marketing? One of the best articles comes from "Reliving My MBA Days." According to Peter Drucker, “The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy”.

Marketing is the key in automatic sales growth! It is knowing and understanding your ideal customer and going out and finding that customer. Unfortunately, NOT EVERYONE IS A GOOD PROSPECT, and that is always one of the hardest realities to swallow.

In the B2B world, you are looking for the good qualified lead. Whether it comes from a tradeshow, article, social media, etc., you are always looking for those leads. After you get those leads (which in many cases you are spending hundreds or even thousands of dollars), what is your systematic follow up? Sometimes you get that “red apple” that is ready to buy.

But most of the time you get a green apple, someone who needs some nurturing. They need to build a relationship with you and your organization. This is where you need a systematic campaign in place to build the relationship with your company.

When your sales team gets in front of your clients, you want those prospects to believe that your company and sales team are the best in the industry. And the way to do that is by building curiosity through innovative tactics and education…3D mailings, snail mail, webinars and email blasts. Everything delivered cross channel. When this all happens and your sales person gets in front of the prospect with a well thought out presentation, you become a consultant, mentor, and confidant!

Remember sales are simple -- be on top of the prospect’s mind when he is ready to buy. There is just no easy way to get there. But if you have an automated marketing system or campaign queued up and ready to go when you come across those red and green apples, it will make your job much easier.

 For ways to stay "Top of Mind", contact us today!