When I left the restaurant and retail business four years ago to start my own consulting company, I did not fully comprehend the lack of marketing experience most entrepreneurs bring to their new businesses. I had spent 25 years learning it the hard way, and for some reason, I still thought everyone else knew more than I did.
During that time, I’ve watched literally hundreds of businesses go out of business. I’ve come to understand that that most business people start as marketing novices, and the lack of developing that skill, combined with a negative attitude about it, will kill a business just as fast as cold air knocks down a soufflé.
Marketing is simply the act of letting prospective customers know the benefits of what you have to offer so they are enticed to purchase your products. It takes consistency, awareness, money and time.
That in mind, I offer up a repeat of my most popular column, first printed 5 years ago, with a few updates. Thank you to the ever-informative Business Journal for allowing me to continue to write these columns on lessons I’ve learned, so my readers don’t have to learn them alone.
A happy holiday season and profitable new year to everyone!
Taimi Dunn Gorman
A jolly holiday business failure carol
… Any resemblance to anyone or any business current or past is purely coincidental.
On the first month of business, the owner said to me, “I don’t advertise, the customers come to me.”
On the second month of business, the owner said to me, “People in this town have no taste, but I don’t need to advertise, the customers will come to me.”
On the third month of business, the owner said to me, “My suppliers are ripping me off, people in this town have no taste, and I don’t need to advertise, the customers will surely come to me.”
On the fourth month of business, the owner said to me, “Can’t get good help, suppliers rip me off, people have no taste, and I don’t need to advertise, the customers should have the sense to come to me.”
On the fifth month of business, the owner said to me, “merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and I don’t need to advertise, customers will eventually find me.”
On the sixth month of business, the owner said to me, “minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and I don’t need to advertise, customers will find me if they want.”
On the seventh month of business, the owner said to me, “the economy sucks, minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and I don’t need to advertise, customers really will find me soon.”
On the eighth month of business, the owner said to me, “websites are a waste of money, the economy sucks, minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and I can’t afford to advertise anyway.”
On the ninth month of business, the owner said to me, “all employees steal, websites are a waste of money, the economy sucks, minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and I’m not going to give those blood sucking media people any money.”
On the tenth month of business, the owner said to me, “We’ve got a bad location, all employees steal, websites are a waste of money, the economy sucks, minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers are tasteless, and maybe a little ad wouldn’t hurt.”
On the eleventh month of business, the owner said to me, “people are afraid to spend because of the economy, all employees steal, websites are a waste of money, the economy sucks, minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and the ad we ran twice didn’t work.”
And finally, on the twelfth month of business, the owner said to me “We’re in a holiday recession, they can’t afford the parking meters, people worry about the economy, all employees steal, websites are a waste of money, the economy sucks, minimum wage is too high, merchant groups are useless, can’t get good help, suppliers rip me off, customers have no taste, and it’s obvious advertising is a waste of money. Wanna buy a business?”
