The New York Times small business blog on January 18, 2012 had a case study on franchises. A former International Franchise Association executive, now a franchise owner, said, “In my time at the I.F.A., I learned that the No. 1 reason franchises fail is because their owners fail to market their own business.”
He’s wrong. It’s not just the top reason for franchise business; it’s the top reason for all businesses. I hear repeatedly from business owners, struggling and successful, that if someone who knew marketing bought their business the business would do much better.
Of course, they would like to be paid in advance for the success the buyer may achieve. From one-person professional service firms to $50 million in sales manufacturing businesses the one common factor for success is good marketing. That means it needs to be researched, planned, consistent and constant.
Whatever your business, you have to do all you can to keep your name in front of customers, past customers and prospective customers. Provide value before they become a customer and you’ll increase your chances of success.
My days are twice as long and I have twice as many problems to contend with. But I’m loving it. William Burris, business owner (above)