Both issues revolve around the big M money and marketing. Many businesses never had to market, or so they thought. Times and perceptions have changed. Marketing is an essential part of keeping your business alive and helping it thrive.
When Richard A. Davis (know as the RAD) and I (known as the ISH) were starting Radish Communications Systems, we had an interesting debate, "What percentage of our business success will be based on technology and what percentage will be based on marketing of the technology?"
How would YOU answer that question? Not surprising, RAD the technical visionary and inventor at the time said, "80 to 90% of success is based on the idea, concept, and technology." The ISH leading the business side including all marketing of the venture countered that, "At most 10% of the success is based on technology, while 90% is based on marketing and the business side of running the firm."
Time would tell. Today after we grew that company from $0 to $40 million in less than six entrepreneurial light years and sold it, RAD, based on his additional experience in starting a number of other entrepreneurial ventures, would have to fess up that sales and marketing play a more important role.
In talking recently to a prospective client, who is leading a fledgling software company that is profitable yet not growing at its potential, the CEO explained, "I forgot to do marketing." This is not an uncommon situation for technology inventors (and others as well) who start and run companies. There's much more work to do than time available. People tend to do the things they are most comfortable with. That's exactly why my firm is in business to help organizations and leaders produce extraordinary results in areas outside of their comfort zone.
CRITERIA FOR SELECTING MARKETING (AND OTHER ORGANIZATION) PROFESSIONALS
Here's what to look for in choosing help:
||Hire a Master-level practitioner who meets the standards of a peer review process. Ask what experience the person has in helping create effective and efficient organizations. Ask what ongoing professional development the person engages in. Ask what credentials or certifications the person holds.
||Hire a person who uses sound theoretical frameworks. What theories does the person operate from?
||Hire a person who ascribes to high ethical standards and practices. What are the person's ethical standards and how does he/she put these into practice?
This is why I am a certified member of Associated Consultants International (www.ACIcolorado.org). ACI members regularly go through a process of professional review and member certification that ensures a thorough evaluation of competence. We know that this process results in reliable decisions with regard to the proficiency of individual practitioners.
TMS in the Blogosphere
Many of my materials are now available through RSS feeds. You can automatically receive this newsletter, for example, by just adding the following URL as content in your blog application or RSS feed reader: www.tmsworld.com/blog/newsletter.xml.
Some of my popular radio interviews are available as podcasts. That feed is located at: www.tmsworld.com/podcast/interviews.xml. My blog is available at: www.radishsprouts.typepad.com. Oh the many ways to stay connected with Theresa!
Selected Upcoming Events
Monday, July 24, 2006. Radio broadcast with host Patricia Raskin on "Nine Traits of Passionate Pursuers." 2:00 PM EDT. Rebroadcast at 11:00 PM PDT and on Saturday July 30th at 3:00 PM EDT. Tune in to www.voice.voiceAmerica.com.
July 21 - 25, 2006. Theresa participates in the National Speakers Association national convention in Orlando, FL and becomes Vice-Chair of the NSA Consultants Professional Expert Group (PEG).
Perform and Persist!
There is an easy way to produce extraordinary results. Re-energize your marketing programs. Let Technology and Management Solutions help you and your organization reach new heights through marketing. Make another great business decision. Contact us today!
Performance in 2006,
Theresa M. Szczurek, Ph.D.
CEO, Entrepreneur, Consultant, Speaker, and Author
P.S. Pass it on. Feel free to share this newsletter with your colleagues.