Duration – 2:34 | YouTube Mirror
Video Transcription
The other day I went to my favorite bakery to buy some cookies only to find the doors locked. It is a reoccurring theme in business that frustrates me. People have these amazing ideas and products, but when they go to market they fail. Why do people with products that are so superior to their counterparts fail? The problem isn’t the product, but the “go to market strategy.” For example my favorite bakery had some of the best cookies in the world, but I may have been the only person who knew how good they were. The flip side is Girl Scout Cookies. At home I have boxes and boxes of these things and to be honest they are not that tasty, sorry Girl Scouts. The difference between the Girl Scout cookies and my favorite bakery is the Girl Scouts have an amazing “Go to Market Strategy.” It is because of this strategy they are highly successful with a mediocre product. So before you start a business based off a great idea or a product, you need to sit down and develop your go to market strategy. This strategy will define how you spread the word about your product, distribution, pricing, location and more. Remember the product is not the key, but how you get it out there. I hope this helps you live life undefeated. Have a great day.
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I like the way you think Mr Dickinson . I am building my Twitter following so I can use that as a lanching pad for my web site when complete. I have build up my followers to about 2300 people that could use my repair videos for DIY’ers or know someone who might. Do you think that is a good start for a low cost action plan.
Mike Pribble
Mike,
Thanks for the comment. I am hesitant to offer advice without having a better understanding of what your goals are as well as an solid understanding of your business plan. If you would like to email me some more details I would be happy to help.
Live Undefeated,
d
Are there any general strategies for this? More like principles than specific examples I suppose.
1. You have to have a business plan that not only addresses the cash flow and operations of the company but the business plan must really have a firm grip on how to take the product to market.
2. It is crucial to make the distinction between your company’s product and/or marketing plan that clearly differentiates your product and/or plan from the competition’s product/plan.
3. You must understand the “WHY” behind the company. Why is…your company different, your product better, your marketing plan effective, etc??? For example, the Girl Scouts “WHY” is based not on the taste and quality of their cookies but because consumers can not say no to a little girl selling cookies for her fundraiser.