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Newsflash

 

Fascinating though Dragon's Den is,

 

aren't you amazed how much time and money some people commit to an untested, untried idea.

 

You have to admire their total belief in the idea, the years they've spent to develop it, the tenacity to build prototypes and their bravery in facing the Dragons.

 

Some are imaginative and good ideas and the Dragons will splash their cash.

 

But, let's face it, in most cases you and I can see it won't work the moment they take the covers off.

 

And then there are the others who haven't a clue who their target customers are, how many they'll be likely to sell and what their company costs to run.  The Dragons didn't get where they are today without asking these basic questions - so they do.

 

It's good TV for sure.  But how can such - in the main - bright people, expend so much time and effort for so long on something that so clearly won't work.  Why didn't they ask someone - a friend, a colleague, their Granny even, (with apologies to Grannies) before they asked the Dragons.

 

Actually, of course, we can all be a bit like that.  Get an idea.  Sure it's right.  Get very focused on a belief, on a dream, or convinced that we know exactly the way it should be done. And for many SME owners and managers it is this that limits growth or can be their downfall.

 

And, oddly enough, it is the very strong points of belief, determination and strong will of these people that can eventually become their achilles heel - their hard work, tenacity and drive encourages them to believe they know how to do everything and don't need help.

 

But why, if you are a widget inventor would you necessarily know how to structure a company or understand the intricacies of finance or how to be a marketing whizkid? And why would anyone expect you to?  But these are the skills which are so essential to making the good ideas turn into good and long term companies.

 

The fact is that no-one can be such an all rounder - and trying to be one limits potential or becomes self destructive.

 

The best thing to do is to get better at what you're already good at and get others who are good at what they're good at to help you grow the business.

 

And, if you can't yet afford, or don't yet need the in-house expertise don't let growth or good ideas drift away, don't get pulled back into doing things you were doing years ago - get some outsourced help.

 

There are times when we all see the experts doing their thing and are highly impressed with their obvious expertise - the potter, the artist, the Red Arrows, Rafa Nadal - and you know you couldn't match their skills.

 

Admittedly, it's difficult to get the same excitement or see overt skill by watching a finance expert or a marketing guru, but they may well have the skills that you don't.  Add experts to your team and you'll get rewards that are greater than the sum of the parts.

 

And, of course, as the Dragons would no doubt say - it's not what you make or do that matters. It's how much of it you sell - and at a very good profit.

 

Jeff Smithers, The Peter Heath Consultancy

 

 

 

 

 
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Home Articles Article 2

News

 

Marketing is a management tool, not just spin or PR


The idea that marketing and public relations is all about changing people's perceptions is not completely accurate.

Read more

 

Fascinating though Dragon's Den is,

 

aren't you amazed how much time and money some people commit to an untested, untried idea.

Read more

Lazy, bureaucratic, slow, incompetent, slothful and much more

 

Words all too frequently heard to castigate the public sector.

Read more

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