Sunday 05th of February 2012

logo

WMEU Home What is the purpose of a business or Owning a business 101
What is the purpose of a business or Owning a business 101 Print E-mail

Peter Drucker said “The purpose of a business is to create a product that a customer will desire and sell it in a cost effective way.”


What is the job of the business owner?

The job of the owner is “to innovate and market.”


Products and services cannot be sold unless they are innovated (Unique), and marketed (get the word out).


Being unique sets you apart from your competition.

You need to be different enough so they you are “not” a commodity. 

Competing as a commodity sets your pricing into a downward spiral as you try to undercut your competition and they try to undercut you.


If you are in this situation as a commodity, you will need to consider how you can sell you commodity with an up sell product or service.

Ginsu Knife your product or service by adding a new (or old) and un-offered product in addition to what you are currently selling that your competition does not offer.


Partnering with other products or services from non-competing companies will double your marketing without doubling your costs.


If your marketing is great, you will never need to sell. People will come to you and practically beg you to sell them your product or service.

 

Main Menu


You Can Have Your Own High Quality Website For Less Than $72 a Year!.