The first and most important fundamental principle of marketing is to approach everything you do within the context of a strategy. Most businesses make the critical mistake of only using tactical methods to craft their marketing. The question that must be addressed is: are you strategic or tactical?
What聮s the difference? Why does it matter?
Take a moment to look in the dictionary and compare the definitions of the two words. Webster聮s defines strategy as Cheap Dennis Schroder Shirt , 聯The skillful planning and managing of an activity.? The operative phrase here is 聯planning and managing.? These are indispensable ingredients a successful business cannot afford to overlook. Both are essential for giving a business clear objectives and direction. They make up the compass which you use to guide your business to your established goals.
Conversely, take a look at the meaning of 聯tactic.? It聮s defined as, 聯A way or method of working toward a goal.? Tactics are very crucial when creating a successful business Cheap Marco Belinelli Jersey , but they always subservient to the strategy. Each tactic must work within the framework of your strategy to accomplish the desired outcomes of your business. Otherwise, there is no direction or true sense of purpose, only a mishmash of activities that might produce a short-term profit.
By operating tactically instead of strategically Cheap DeAndre' Bembry Jersey , many businesses set themselves up for mediocrity. Countless hours and thousands of dollars are spent on tactics without a proper strategy in place. These businesses have no idea what their marketing goals are, let alone the desired outcome they are working toward. Sure, sales may increase a little here and there Cheap Mike Muscala Jersey , but consistent growth is rarely experienced due to the constant chaos of reacting to the whims of the marketplace.
Successful businesses have developed a strategic plan for their marketing and continuously execute it as a core function of their operations.
You聮ve seen them before. They are the marketers whose message you see everywhere you turn. They have developed a comprehensive marketing approach that聮s delivered consistently and relentlessly to a specific target of prospects and clients. Their success comes from a basic understanding of the difference between a strategic attitude and tactical one.
Simply stated, strategy is the what of a business聟what you are going to accomplish and what activities will be required to reach your marketing goals. Strategy requires thorough research, long-term vision Cheap Kent Bazemore Jersey , and careful planning as well as a commitment to implement the plan until it produces predictable results.
Tactics, on the other hand, are the how of marketing. These are the means and methods of making your marketing produce sales and profits for your business. Tactics include how you聮re going to reach your prospects Cheap John Collins Jersey , how you are going to sell to them, how you are going to service them, and so on. Think of them as the activities and procedures you engage in within the structure of your strategy.
Executing marketing tactics without a strategy is like playing a game of darts in a darkened room; every once and a while you may get lucky and hit the target but it doesn聮t happen very often. It聮s not the best way play darts or market your business for outstanding success.
Invest the time to properly develop your strategy and then create the tactically actions that will create sales momentum for you. All it takes is focusing on your goals and committing to do whatever it takes to reach them.
Ron Abbott is a marketing coach Cheap Miles Plumlee Jersey , entrepreneur, speaker and author of the where you will find more small business marketing articles, resources Cheap Taurean Prince Jersey , ideas, and tools.
No business, whether large or small Cheap Ersan Ilyasova Jersey , can survive without some form of credit. The same rule applies to your debtors. When you sell them products you have to give them time to pay back. But this can create liquidity crunch for your company and you will find it difficult to pay your creditors. But businesses benefit from different types of loans that are available to them. An equipment loan and small business loan are two such loans. There are many lenders in the market and a bit of research will help you get the best terms on these loans.
Equipment loan, as the name suggests, is a loan taken to buy a piece of equipment. It is provided in the form of a term loan where the borrower needs to pay the principal along with the interest to the lender. Unlike equipment lease a loan on a piece of equipment ensures that the title to the equipment belongs to the borrower. At the end of the loan term period the lender terminates the loan transaction.
Buying a piece of manufacturing equipment or construction equipment or infrastructure equipment is not an inexpensive proposition. These large pieces of equipment cost quite a lot and a huge amount of money needs to be invested in buying them. Then there are the expenses related to their maintenance. Until an infrastructure company is sufficiently liquid it cannot spend so much so soon. This is why it makes a lot of sense to go for an equipment loan where a small down payment needs to be made and the rest of the amount can be paid in monthly installments.