With over 85% of small businesses failing in the first three years of operation, one has to wonder why this number is so high.  So I did a little research and this is what I found.  It turns out that banks, business schools and different organizations that support small business were asking themselves the same thing.  With a passion (not unlike mine) to see small businesses succeed, they decided to find an answer.  They decided to survey small businesses and find out what the heck was going on.  Funny thing, all of them found the same revealing yet simple answer to the question.  Why are so many small businesses failing – simply put, “it is a lack of marketing”.

Even after discovering this, I was still perplexed as to why someone would put so much “blood, sweat, and tears” into creating something that they love just to see it disappear before their eyes.  But then I realized that we all start businesses (and I’m no exception) because we want to work for ourselves doing something that we love.  So we start our own (marketing, retail, literacy, training) business with all the right intentions to make it successful.  But then we get so involved in working in the business that we forget or don’t know how to work on the business.

So how do you break the cycle of working in your business instead of on it?  Simple, you have a plan:

1. Schedule time with yourself each day or each week to work on your marketing (do not break these appointments; they are as important as any appointment you would make with a client)
2. Decide in advance what you want to accomplish this year with your marketing (this will eliminate the “promotional panic” where you spend money on last minute ideas and get no results)
3. Commit to a budget to support your efforts (decide on a number that you can spend monthly; you can’t grow on zero dollars)
4. Identify your ideal client (it’s easier, cheaper and more effective to market to a specific group of people that wants your service than to market to the masses)
5. Define your differentiation and communicate it (you have to stand out from the crowd/competition if you don’t want to be shopped solely on price)
6. Create a communication system that allows you frequent and regular contact with your prospects and clients (it takes 7 – 10 touches for someone to know, like and trust you and then buy from you)
7. Stop talking about you in your marketing materials and start talking to your ideal client (people want to know what’s in it for them; tell them about the benefits; not the features)

John Jantsch said it best in his Duct Tape Marketing book, “If you’re in business, you’re in the business of marketing”.

Brenda Mahoney is a Duct Tape Marketing Coach located in Calgary, Alberta Canada. Find out more at www.criticaledgemarketing.com