Many new entrepreneurs are absolutely brilliant at gauging customer interests and delivering on the desires of the consumer. When it comes to marketing and branding, well they just rock. The money seems to flow in like water, along with massive numbers of customers through referrals from there. Still, as fast as they are making money, it seems to go right out again with expenses. Their employees are into it, the customers love it, but there is little if any real efficiency or accountability. This is a recipe for future failure and a huge crash if things are not brought back into relative perspective. Okay so, let’s talk.
In life, many people get by with their good looks, their gregarious displacement, and their optimistic positive attitude. For them I say congratulations on your success. However, if you think you can skate by in a business of your own just on your salesmanship and marketing skills you might be headed for a fall. Remember businesses are in business to make money, and that will require close scrutiny of business processes, money flow, purchasing, customer service, and a solid set of metrics.
There’s no escaping it, so you are going to have to learn some management skills to go along with your sales and marketing talents. You are going to have to manage for success, it’s not going to happen automatically, and you’re not getting there without a solid foundation. Are these things hard to learn? No not really, but they are hard to do right because they require your full attention.
I’m not suggesting that you go create a bunch of forms to make everyone fill out every time they turn around at your company, that might do the opposite destroying the positive attitude that permeates your company because of your great attitude. Rather, what I’m saying is that you can’t leave any stone unturned, and you are going to have to get serious about the realities that drive profitability. As much as you’d like to expand your business, grow your customer base, and project your brand name – you can’t do that over the long-term without managing your business properly.
One of the easiest ways to acquaint yourself with management theory, practice, and basic philosophy is to go buy a book by Michael Gerber called “The E Myth” and after you read that book you’ll understand what you need to do, as you custom tailor your management and business processes to meet the idiosyncrasies of your industry in the way in which you set up your business. Indeed I hope you will please consider all this and think on it.