I was reading an article in a local newspaper last week about how some local businesses have been using coupons to bring in customers.

This is what they found. Most of the customers coming in were only looking for a deal. Most of the customers using the coupons would not turn into repeat business. And many of the businesses honoring the coupons lost money on each sale just to get the customers through the door.

Businesses also purchase newspaper ads; TV and radio ads; and use other marketing techniques they just have to pay for or "buy" without any real thought given to return on investment. Sometimes, it's just the easiest thing to do.

I have seen professional speakers spend enormous amounts of money on their websites and headshots without doing any other marketing with an expectation of getting results. The speakers who approach their business this way are struggling or broke.

These are just a few examples of how businesses attempt to "buy" success. Sometimes business owners do these things because they don't know any other way. Other times it is just from being lazy in their marketing.

In some cases, businesses had to close their doors because they were spending so much money on advertising in a desperate attempt to salvage their dying business.

It doesn't have to be this way. There are a few key areas that, if you pay attention to them, will deliver results every time (and they are free).

1. Time management. Successful people know how to manage their time and they know how to keep other people from wasting their time. Focus on money making tasks. You can rearrange your desk another day.

2. Communication. Effectively communicating your message, both verbally and through the written word, to the marketplace through your website, social media, your interaction with people, and promotional materials.

3. Technology. Knowing how to harness the power of the internet by learning how to use social media, blogging, having a great website, and by utilizing every other aspect of internet marketing.

4. Become the best at what you do. Become the "go to" person in your area of expertise. Study your chosen field as if you were studying for a masters degree. Become a lifelong learner.

The bottom line is this. You cannot "buy" your way to success in business. Having money to put back into your business is helpful but it is not usually the remedy for a failing business. It always helps to go back to the basics.

Being in business is not for the faint of heart. It is a serious undertaking that takes perseverance, patience, a strong belief in what you do, and faith. It takes all this and more. But the rewards far outweigh any obstacles or challenges you may face along the way.

Be patient. Have fun. Believe in yourself and your abilities. And keep moving forward.

 

To Your Success,