The best kept secret about marketing a business is that no one has to have a storefront structure with employees and other overhead or even incorporate to be “in business”. They simply need to generate ideas that increase their potential to earn income outside of a 9 to 5. Product type determines start-up capital amount; the need to market to the masses or simply pitch to an investor (idea purchaser). Producer and consumer values determine whether or not an idea positively impacts society, is socially responsible or is worth a billion dollars versus $5,000.
Consider the songwriter who provides intellectual property by way of lyrics for a hit song. Also consider the script writer (Avatar); the gadget (Apple) or software developer (Microsoft), the car parts maker; the fashion designer, engineers (all), authors, etc…. The money is in their ideas! The “business” is managing everything related to their ideas: finance, accounting, management, marketing, legal, information systems/technology, economics and networking or what I call the FAMMLIE Network™.
As it relates to marketing strategy, often consultants won’t say that you don’t have a salable product or that you don’t need an $8,000 campaign to launch let alone grow. Although it is true that there’s an audience for everything that does not mean that you need to develop a business around everything.
Owning a business is nothing more than creating and managing a legal, tax structure different from individuals and families. Being able to determine if you want to be a creator of ideas, a manager of ideas, a purchaser of ideas or a combination of the three will justify business development and ensure a viable marketing strategy that yields results.
Author: Isha Edwards