The Missing Knowledge That Stumps Most Black Entrepreneurs
12. Jan, 2010 
2 Comments
Maybe I shouldn’t use the definite article “The”, but the more I interact with entrepreneurs from all over the world I become more convinced that it is the ‘missing knowledge’ that kills the dreams and aspirations of many entrepreneurs and would be entrepreneurs.
You want to know what that knowledge is?
It is Marketing! And I’m talking about a real knowledge of marketing, not just screaming at people to visit your site and buy your product or service and if they don’t they are going to miss the chance of a lifetime and be doomed to the poverty they deserve for not buying from you.
This is where I get tremendous resistance. Everyone wants to talk about how his or her product or service is better than someone else’s product or service.
And that may be true, but who knows that?
It doesn’t matter if you do have the best product or service, if you can’t convince YOUR market that you have the better product or service, you are dead.
And understanding WHO your market or customer is; is in most cases more important than the product or service.
If you can’t define Who your customer is and what to say to them and how to say it when they want to hear it get ready to be stomped.
Get ready for a frustrating entrepreneurial experience.
Get ready for those painful days of wondering why no one is buying my superior product or service. “Don’t they know who I am?”
In the Information Age, you must become a master at marketing and understanding the process.
Just as the Information Age has empowered the entrepreneur, it has also empowered the consumer.
Customers can take their time to seek out the product or service of their choosing.
You have to have the ability to create a message that will make them choose you over other products or services just like yours.
And on top of that, you better deliver what you say and then some or you will have another problem on your hands.
I’d love to hear your thoughts…Post a comment below!
So are you saying that in communicating “who I am” I need to go beyond the flyers and slogans or have more effective copy?
In this post-information age of B2B and B@C sales/revenue relationships, Entrepreneurial marketing has to be renewed for African -Americans. In today’s marketing the new brochures or web portals, email addresses & other digital leads. Buyers quietly self-educate themselves on what you are selling. Marketing succeeds if we understand one thing: when information is exchanged with a prospective buyer, the insights one gains is by 1) obtaining who received the information and 2) why the consumed it. Mastering this trend sets all entrepreneurs up for survival success and frustration free.