" A problem well stated is a problem half solved" It would be fair to say that we all know that the UK is in a recession, times are tough and raising money from your bank to assist you in business is like crossing your fingers and hoping your lucky numbers will pop up in the national lottery. So as the statement above is definitively true: ' a problem well stated is a problem half solved', let's not dwell on things we can't change and get down to working on the things we effectively can change for the better. Where do we start? Well, to go forward you have to gaze back and learn from the lessons of the past. In the good old days businesses and sole traders didn't worry about customers phoning through orders, or walking through the door to purchase goods or services - it just happened. Now things have changed! This is where the lesson begins. " A lesson repeated is a lesson not learnt" - Your Attitude to Marketing Marketing has been seen by many businesses as unimportant, or something that drains resources, and so is usually left to chance. Right now many businesses have even cut their marketing budget in a foolish attempt to cut costs. But the only thing they are cutting is their own throat. Such foolhardy thinking and knee jerk reactions will yield little in relief and have a long term negative impact. I am sure you were shocked when the age- old institution of the high street pick n mix store ( aka Woolworths) fell at the first hurdle at the start of this year. Ruefully shaking your head, you no doubt uttered the words of a nation in shock " I don't believe it". Note the lesson here; if the big boys can fall down so can you! The lesson is not to ignore the basic fact: Marketing is very, very important to invest in and shouldn't be cut in this economic recession. However, you should invest in it wisely. Keep your mind on your objective, and persist until you succeed. Study, think and plan. William Clement Stone for more information GO TO THE NEXT PAGE Thinking Points: Ask yourself these 3 succinct questions; answer them honestly! What is my attitude towards Marketing? Do I consider Marketing to be an important function in my business? How much budget and time have I invested in marketing this year? A lesson repeated is a LESSON NOT LEARNT 6 marketing STUDY, WORK, PLAN

5. Next you need to look at the wider market place and target groups of people you want to attract to buy your product or service. This involves more than just a finger in the air approach, it means doing research, looking at those SWOT points and matching them to consumer needs and wants. Make it a no- brainer for them to buy into your profitable products or services. Make the price appealing, but make sure your figures add up! 6. Finally, you can then put together a Marketing plan that makes you focused. Try a 3 month plan or go the whole hog and write out a basic 12 month plan of attack. Listing the what, where and when of how you are going to promote your profitable products or services, select the right marketing tool for the job. Yes, the tools i. e. your website, your print, your email marketing, and others. Ensure the tool you use is right for the identified target market or it will be a waste of time, money and resources. Study, Think & Plan William Clement Stone, a prominent businessman, philanthropist and self- help book author, once wrote; " Keep your mind on your objective, and persist until you succeed. Study, think and plan." Powerful words from the man who invested over £ 2 million pounds of his own money in getting President Nixon into power. But seriously, think, if Woolworths could go back in time or indeed perhaps you as a business owner could look back at all the money you have wasted on poorly conceived marketing ventures, these words would be the mantra that could have saved you thousands! So let's not repeat the ill- thought- out lesson; simply follow these steps below; 1. Study your business; identify the main products and services that are profitable. List them out. Be ruthless; if you have something that drains resources and earns you next to nothing - it isn't profitable. So don't waste anymore time and resources in producing it or promoting it. 2. Next, you need to study your competitors. What products and services are they offering? Do you know? Research them, find out what they are doing well, and take the good and bad points away for due consideration. Then apply this knowledge against what you offer. This can be done by using a simple SWOT analysis: Strengths, Weaknesses, Opportunity, Threats. STEP 1 STEP 2 3. Now armed with all this valuable information you need to stop and think! Change maybe needed and that can be a harsh reality to face. But it's a reality that could mean the difference between success and failure. Once you have taken this step then you need to think objectively. If you arrive at the conclusion that you actually have a competitive advantage that you didn't even know about, then that's great; now you need to use it to your advantage. 4. But before you take action you need to study the market place and think about figures. If you have a current target market that has bought into your products or services already, why not regain or reinforce customer loyalty by asking your clients: Why do they buy from you? What is it that makes them stay with you? What could you do better? Or be bolder - why not ask them: What could you do to get them to buy more goods or services from you? The answers may surprise you! STEP 3 STEP 4 STEP 5 STEP 6 A wise man once wrote; " Give a man a fish and you ' ll feed him for a day; teach a man to fish and he'll eat for life" 7 marketing STUDY, WORK, PLAN