No matter the business, the business model, or the end goal, to succeed in the modern economic model, the goal is quantity and quality.
But quantity is almost more important.
We live in a high-volume world. “Big,” “splashy,” “everywhere,” are the names of the game, no matter how small you are with your company.
What I mean is this, even if you only sell custom-crafted products, like say sculptures or cakes or specialty furniture, and you don’t create a high volume of consumables, you need to have a high volume of advertisements to get new clients, to get people willing to pay you for your service.
Yeah, word of mouth is the best marketing, but the second-best is finding a demographic and getting something into the eyeballs of every single one of them, and then again, and then again.
With the modern world’s absolute torrent of advertising, it’s harder and harder for a single advertisement to even impact a person. Very successful marketing plans have a huge disparity between how many people see an ad and how many people convert. Some say that you need to hit a person with an ad, the same product, quite a few times to get them to associate the product with a need and making positive—for you—buying habits.
Like I said, high volume.
And, if you do sell consumables, which usually involves an intense overhead cost, then it’s even more absurd the volume you’re going to need to operate at to make a profit—but I’ve already written that article.
Profit must be used to scale when possible. Budgets managed, everything paid, and then the money used to go bigger, to be higher volume. There’s obviously the danger of being too big than you can currently handle, but, generally, less is not more: more is more. Never let quality slip but be prepared to go bigger as soon as possible.
It’s a competitive market, whatever market you happen to be in, and higher volume than the other guy is the way to win. Don’t rest on your laurels—because they certainly won’t.