Episode-2694- The 2 Reasons Most New Businesses Fail

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I want to start out by clarifying I am talking about businesses and entrepreneurs who had a chance to succeed in the first place. So a lazy person won’t succeed and a flawed product or service is likely to fail, but we are not talking about that.

I am also not really speaking of the “gig economy” here either. Driving or Uber is entrepreneurial but it does not make you an entrepreneur. It is sort of half and half model and the system itself largely compensates for the primary cause of failure in many true independent entrepreneurial ventures.

What I mean is the person who develops a product or service and attempt to earn revenue by distributing it to customers. The above sentence is broken down into four disciplines….

Production
Marketing
Sales
Delivery

New entrepreneurs tend to focus on production (the product) and delivery (shipping/download/etc) and largely ignore sales and marketing. This sounds insane and they often disagree, but as you will see today, marketing and sales are something very few people do well. Many succeed in spite of it but in my experience it is the primary cause of failure, especially in solo entrepreneurs.

Join Me Today to Discuss…

The “absolute definition” of sales
The “absolute definition” of marketing
What effective history teach us about marketing
An example of how I sell duck eggs for 8 dollars a dozen when others can get 4
The reality we ignore, if you have never done something you likely have to work hard to become good at it
How to develop your story
How to tell your story
How to develop a process to automate as much as possible
Why this is important even for many “successful businesses”
Why this topic may be the most important survival topic of this decade

Resources for today’s show…

The Legend of Wooley Swamp – The Charlie Daniels Band

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