Entrepreneurship has been defined as “the art of finding profitable solutions to problems.” It’s the successful entrepreneur who studies a problem…researches possible solutions…implements change…and stays the course while the solution is given proper time to work.
There is one particular problem that irritates the heck out of most small businesses. It’s like the “prom pimple” that shows its ugly head right on the tip of your nose. But in the world of small business, this “pimple” is commonly referred to as—advertising. It is ugly. It’s embarrassing. It’s expensive. Nothing seems to work. You can’t get rid of it. You wish it would just go away. Yet, in the back of your mind, you know you need it.
Consider this scenario: As a business owner, you pay a nominal amount of money each and every year for the professional services of an accountant. It’s the smart business owner who knows the financial position of the company at all times. Chances are you also spend money to retain the services of an attorney to keep everything ship-shape and avoid trouble. But if you are like most small businesses you will spend many more times that amount on advertising and receive very little, if any, professional help. But you keep spending money. Experimenting. Testing. Trying to determine what works.
Let’s get a big ad in the yellow pages. All our competitors are there. It must be effective because everybody’s in there.
Maybe a big chunk at the newspaper. We’ll lower our prices and bring in hundreds of people….just like the grocery stores and the big boys do.
Let’s try some TV and see what that does. If they can “see” what our store looks like that has to make a difference.
A little bit for radio. We’ll catch people on their way to work or on their way home.
Billboards look nice. Gee, with all the people that drive by everyday they’ll certainly know about us. It’s a great way to “get our name out there.”
Let’s go back to the very definition of entrepreneurship, “the art of finding profitable solutions to problems.” It’s not defined as doing the same thing over and over until it works. It doesn’t mention anything about throwing money at a problem hoping it will correct itself. And it says nothing about beating your head against the wall until the pain goes away. It is “the art of finding profitable solutions to problems.”
If you’re looking for a “profitable solution” to your advertising problem, check out Marketing Firepower. If you implement our proven principles and strategies you will discover advertising success. You, too, can find a profitable solution to your advertising problem.
Van is vice president of Marketing Firepower with decades of experience in helping small business succeed through the effective use of advertising.
