On Reddit, the owner of a $1m company writes that “the successful execution of 3 areas is a guaranteed recipe for a healthy business.”
I reckon the 3 areas he lists are just as important for an online business 💻
Marketing: “The entire purpose of marketing is to generate opportunity. Opportunity for people to interact and potentially buy from your business.”
Sales: “Your sales process is supposed to help you capitalize on that opportunity… Your sales process is the process of taking someone from a lead to a customer.”
Production: “Your production is designed to fulfill the promises of your marketing campaigns and your sales practice… With a strong production system, you’ll turn those customers into lifetime customers.”
The same Redditor also noted the main issue most small businesses run into:
A contractor who’s focused 90% on production (Because he’s really good at it) will have a very hard time escaping performing the actual production because he doesn’t understand that he needs to spend money (on marketing and advertising) to create opportunities to generate more money (enough to keep a team busy to eventually free him/her from the physical labor).
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