Even using one of the strategies just mentioned, the risks of having enough cash to![\"\"](\"https:\/\/berkonomics.com\/wp-content\/uploads\/2015\/06\/image1434650888-300x240.png\")
fund\u00a0daily operations or growth can be daunting.\u00a0 The same is true about marketing. If you don\u2019t directly engage the potential customer at the right time, place and mood, you are at a disadvantage from the start.\u00a0 There are too many competitors for a customer\u2019s time and money to make an error in your approach and offer.<\/p>\n
Here\u2019s the ultimate thing about entrepreneurism<\/strong><\/p>\n If you don\u2019t choose to enter the fight, it is impossible to win it.\u00a0\u00a0 And entering the fight without the proper resources usually assures defeat.\u00a0 Resources such as money, experience, statistics about your target, experienced marketing and sales talent, and especially a compelling need and attractive product are all important to the ultimate success of an enterprise.<\/p>\n So, ask yourself:\u00a0 Are you ready to enter the fight?\u00a0 Do you have the resources necessary to at least give you a chance to win?\u00a0 If not, what do you need to do so, and how can you get those resources?<\/p>\n Then there is the risk of underestimating time and money<\/strong><\/p>\n [Email readers, continue here…]\u00a0<\/em><\/span> I am often surprised at the inexperienced executive\u2019s estimates of time to breakeven for a product or a company, about the time and cost to Research the market before allocating resources<\/strong><\/p>\n You may have all the other ingredients. But without an excellent marketing plan and a way to execute upon that plan, the best product and the most cash reserves won\u2019t bring in the customers.\u00a0 Since great marketing means addressing the wants and needs of the customer, about distancing the product from any competitor, about getting the message out to the most people possible, you\u2019ve got to commit resources and energy to the fight in order to have a chance to win it.<\/p>\n","protected":false},"excerpt":{"rendered":" Well, of course it is. \u00a0So, let\u2019s dig a bit deeper. Sometimes, you can reduce your personal risk by taking in other people\u2019s money in various ways, perhaps starting with a consulting contract with a customer, purchasing a going business … Continue reading ![\"\"](\"https:\/\/berkonomics.com\/wp-content\/uploads\/2015\/03\/Fear_decision1-300x200.jpg\")
market, about the expense in overhead needed to stay in the game.\u00a0\u00a0 Most of all, I am surprised at that typical person\u2019s inexperience in the marketing arena and understanding of the importance of marketing to the success of the product.<\/p>\n