In a recent workshop at Kolkata for CEOs of early stage and small businesses i shared the most up to date version of an entrepreneurial marketing tool that i am creating. The underlying premise of the tool is to narrow so as to focus efforts and through this achieve growth. When one of the participants walked up to me at the end of the workshop and told me that in the last seven years he has been in business i was the first person to tell him to reduce the breadth of his marketing activities, narrow his target markets, focus efforts in limited products and services! He said he was both surprised and bewildered at the beginning. But having spent the entire day thinking and working out – he figured that he may have missed something very fundamental.
I was glad. This is exactly what i wanted my CEO participants to recognize. I knew that if they can acknowledge that there is a need for a fresh approach to marketing which is very different and at times opposite to what traditional marketing offers – much of my work is done.
All the participants identified one market to focus for their growth. They were excited at the end of the day long deliberations that they have a possibility of growing through narrowing. They promised themselves to detail the plan that they started working on and implement it. I hope to hear from them soon on their success!
“Entrepreneurial Marketing” as an area is searching for fresh thoughts. My current work is on that. Hope to get it into a formal manner (book / articles) soon!
But my biggest learning (reiterated) – it is easy to miss the obvious.