Another very important skill that you need to have to build a successful business is Marketing skills. One of the main reason why I lost all my money in my business previously is because I know next to nothing about marketing. I remember placing a 2 page advertisement in the newspaper where I received 2 phone calls and zero sales. It was really a disaster.
By looking at the advertisements placed by companies in the daily newspaper, I can tell which company will do well and which company is losing money. From this information, it can also help me to decide whether to buy their stocks if it is a public listed company. It amazes me to see so many "Enthrowpreneurs" in the market. These are entrepreneurs that are throwing away money with very poor marketing skills.
A good advertisement will have AIDA; Attention, Interest, Desire and a call for Action.
Attention- This is usually the headlines which must be able to grab your attention so that you will want to find out more.
Interest and Desire- This is where you show the readers the benefits of your products and services. It must be able to create a desire where they would want to take an action to find out more about your products or services.
Call for Action- It is amazing to see that some of the advertisement do not have a contact number or email address where you can contact them when you are interested. The call for action is very important because if they could not contact you when they are hot and interested at that point of time, you might lose them forever.
We teach Marketing in an action based and practical way in our Entrepreneur Action Program in Singapore. It will help you to understand marketing better through practical experiences during the program. You will also learn why you need to do test and measure. This is where you test your advertisement and measure your results. This step will help you save a lot of money and increase your revenue. We will also teach you how to pull in more than $10 for every $1 you invest in advertisement.
My advice to you is that you do not start a business without learning how to market your products or services. It can be very, very costly.
Looking forward to seeing you again next week.
