Some companies with "noble bloodlines" and "dream team" have "before they die," not because they made "advanced" mistakes. Their mistakes are fatal, but the level of error is not high. These companies are staring at the stars in the sky, and did not expect to fall into the "trap on the ground." These traps, which are not hidden and do not have huge lethality, have repeatedly become the burial place for many growth companies with high morals.
Trap 1: "As long as you do well, you must have a good market."
No one admits that he still believes in the old tune of "the wine is not afraid of the alley." But many companies, especially those that believe they have “killer†products and services, are often immersed in a good shackle: their products or services are invincible once they are listed. There are such ideas, often because you have not been involved in the business for a long time. Many companies like you have the same good feelings are more frustrated to admit that their "killing power" is actually quite limited. The unique functional advantages allow you to save some power in marketing, but you can't replace marketing.
Trap 2: Attempt to subvert all existing rules
Business activities are carried out in accordance with some basic principles. Earning money is the last word, and cutting-edge ideas do not guarantee you to make money. Obsessing with fresh means can easily make you "playing things", this "chi" is profit.
Instead of always thinking about creating a blockbuster, it is better to learn from successful practices. Successful business practices are the successful application of some ancient wisdom in different business situations. They are result-oriented and choose to be used in a proven and successful way instead of choosing another one.
Trap 3: Excessive preparation
You can't learn to swim and then get into the water. If you do something after you are fully prepared, you may not be able to do anything in your life. Also, if you want to sell 100 million items, you must first sell the pieces. The fear of failure has driven us to prepare for nothing. As a result, you will become more and more prepared to become less prepared, and the more prepared you are, the more prepared you are.
Don't be afraid to make mistakes. Errors are the gateway to success.
Trap 4: Tired
Many people start a project soon, and they have the idea of ​​giving up. There is only one reason: I am tired of this project that is working at hand. "Do not make money" can be a reason for you to give up. But starting a new project just because of “tiredness†means that the next “tiredness†is waiting for you.
If you feel that a target market can bring you continuous profits, you must stick to it and wait until it brings you change. You can look for new potential markets, but don't give up on this one. Replacing an unknown new project is not a good solution to the problem.
Trap 5: Playing cards according to competitor's rules
It is necessary to pay attention to the actions of competitors. But don't do it. If your competitor wants to be the leader of the price cut, let him do it. At this time, you do everything you can to provide valuable things, not bargains. Find an unmet or demanding target market and fill it with products and services that are different from your competitors. In addition, as simple as possible, give customers a reason not to buy your product.
Trap 6: Excessive market segmentation
Determining a market segment is a smarter way to market. Because this investment saves quickly. But in the medium and long term,
Locking in an overly special market will greatly limit the growth of the company. For example, you decide to make a mouse that is designed for the left-hander who loves smoking.
When you target a highly segmented market, you must be certain that these very small customers can use or frequently update your products or services. In other words, the consumption of these very few customers must be large. Otherwise, the positioning is accurate and you can't make much money.
Also, don't "competition for future money." Your target customers must now have the ability to purchase your products and services. Otherwise, when this demand is nurtured, the company has long since closed down because of the light business.
Trap 7: Losing old customers for the pursuit of new customers
Want to cut half or more of your marketing costs? Previous or current customers are treasure trove resources that enable you to achieve this. The cost of any new customer is three to five times the cost of keeping an old customer. The bigger resource is your basic customer. So keep reminding yourself that any sale is a good start to contact and communication with your customers, not the end. Also, give your current customers some additional products or services.
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