I wanted to share this quote that is behind me that we printed on our walls here in the office.
It says “All you need is Innovation and Marketing” - but the full quote is this:
“Because the purpose of business is to create a customer, the business enterprise has two--and only two--basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
This quote is from Peter Drucker. He is best known for his work of management and has been called “the man who invented management”, but his writings on Marketing put him as one of my favorite businessmen to walk the planet.
So why is it that Business Owners rarely prioritize their innovation and marketing?
Usually, their focus is on sales and fulfillment. Which is important - because At the end of the day, without a customer - we don’t have a business.
But what customers are looking for is something NEW in their life as a solution to a problem they are having.
This is where innovation steps in.
If we are constantly innovating our business to become what our ideal prospects want and need, becoming better and better, leveling up, and producing better services that customers want to buy.
And in order to find those customers - you’ve got to market.
And the goal should be that your marketing makes selling superfluous. Meaning your marketing is so damn good - that it sells itself.
And how easy it is to market an innovative, different, product and service that everyone has. Innovation and Marketing - it’s the only 2 things you need in your
business.