Why do we do what we do?
I don’t know about you but I kind of fell into running my own business. I didn’t make some bold decision one day to set up BSA Marketing, I grew into it.
If I am honest, I really didn’t know what I was doing to start with. I had been working with my father and then, following his sudden death, I found myself holding the reins, and the debts, and the responsibility to our staff. I was almost too busy every day to stop and ask myself what I was doing and why! This went on for about 3 years and I really believe that if I had carried on down this path, the business wouldn’t have survived – and it nearly didn’t.
That was 30 years ago and recently I have been thinking about back then and how things evolved. From being on the brink of bankruptcy, how did BSA survive? What changed?
Believe in your business
I am convinced that there was one decision I made, above all the others, that put me on the track to success. I must stop trying to run my father’s business and start to run my own business. This meant moving away from just doing what we did and shifting to think about what we were delivering to our clients. Do I really believe in it?
This shift is fundamental to the essence of running a business. If you aren’t 100% committed to your own proposition, it is hard to build a sustainable company.
Marketing is a real belle-weather of this commitment. Marketing is about communicating your proposition and brand values, rather than just selling your products/services. You do marketing because you really believe that what you offer is beneficial. If you are committed to your business, you want to tell people about it. You know that they will appreciate the outcome of doing business with you. At a fundamental level, you aren’t trying to sell your products or services because you don’t need to. You know that if your customer understands your proposition they will want to buy from you!
This may sound a bit arrogant but actually, you are laying your business on the line. Deliver on your proposition, and your customers will come back for more. Fail to deliver and your customers will go elsewhere in future. Your business will fail.
Listen to your market
While belief in what you are doing might be core to building a strong business, blind faith is a step too far. If marketing is about communicating your proposition to your target market, part of this process is generating a response – and it is important to listen to that response. A common theme amongst successful business owners is the time it takes to create a successful company. In the words of Amazon owner Jeff Bezos:
Overnight success took 10 years
It is while you are growing your business through the early years that your belief in what you are doing is particularly important. You must have the confidence to stick to your guns. However, you must also be ready to listen to your market. It is customer feedback that helps you refine and improve your proposition, but if there is ever uncertainty about what your market is saying, you should always be ready to stand by your own intuition. Use the feedback you get but don’t be dictated by it.
Stick at it – with a plan
If your overnight success is going to take 10 years to come good, you need to be ready to stick at it! Confident persistence in following your belief is at the heart of most successful businesses. The biggest risk you face is running out of cash and this is why having a clear plan is so important. While you can’t predict the future, a plan helps you manage what the future throws at you. Your plan is also the statement of your belief in your business. You aren’t just making it up as you go along. Your plan is your framework against which you can make new decisions as you are presented with new opportunities – or challenges!
In my experience, it is a real privilege to run your own business. It can be hard work and challenging but the opportunities it presents can be difficult to achieve in any other way. However, unless you truly believe in your business, you are unlikely to see what it can offer to you.