Earnings Growth For Entrepreneurs



Helping entrepreneurs Design Build Grow market leading companies.

Friday, October 1, 2010

The Top 15 Most Influential Books on Internet Marketing

Every week for the past 8 weeks I have been in a conversation with a writer, a designer or a small business owner about what books to read to get up to speed on Internet Marketing. That is a tall order for sure. There are far too many topics to do justice to the entirety of Internet Marketing. However, having a grasp of the fundamentals across the core disciplines is all that most people need to shape their understanding, to direct their efforts and to help them make better decisions within their own discipline.

In the interest of not wanting to answer this question over and over again, I offer this outline. Here are the top 15 most influential books I've read on internet sales and marketing over the past 12 years. I have organized these books into what I believe to be a logical sequence. These books address a comprehensive view of the basics. I can assure you that I needed to read 10 times this many books in order to find these 15 gems, so no complaining.

Your total cost to purchase these 15 books is about $500 and I wager it will take you 50+ hours to read them. This is the equivalent of an hour a week of reading for a year, or 10 days worth of TV time for the average person. At $100 / hr for each hour of reading, plus the cost of books this constitutes a $5,500 investment in training. However, I invite you to consider the impact this learning will have on your business or professional career over the next decade or more.

Here it goes.

1. Inbound Marketing: Get Found Using Google, Social Media, and Blogs by Brian Halligan & Dharmesh Shah

This is my current favorite introductory overview of the whole process of internet marketing. I must have recommended this book 20 times this year and I have colleagues who are on their 3rd reading of it.
Read our full review

2. The New Rule of Marketing and PR by David Meerman Scott

This is my second favorite introduction, that is focused more on the current paradigm shifts occurring in public relations and marketing.

3. Scientific Advertising by Claude C Hopkins

Written in 1923, a ground breaking work that is still relevant and contrary thinking today. The book highlights the need for measurement in marketing. It is also available as a free PDF download online if you poke around a bit.

4. Crossing The Chasm by Geoffrey Moore

I recommend this book because it drives home the point about what marketing really has to do for businesses that do not sell commodities. This book highlights the problems I spend my life trying to solve.

5. Duct Tape Marketing by John Jantsch

For similar reasons I recommend this book to writers, designers and small business people because it highlights our job as marketers more clearly and pragmatically than Moore's book. It focuses on sales lead generation and bridges between traditional and internet marketing.
Read our full review

6. SPIN Selling by Neil Rakham

SPIN Selling is my all time favorite sales book. It doesn't seem to matter how effective the marketing is, the sales leads ultimately end-up in the hands of a person who needs to make a sale. SPIN selling is another paradigm-busting book that is still relevant after over 22 years.
Read our full review

7. Made To Stick by Chip Heath and Dan Heath

Likely the most challenging aspect of marketing is figuring out how to make our ideas relevant, impactful and sticky. This book will challenge your thinking as it invites you to take your communication from boring to extraordinary. It offers principles to follow and loads of examples to consider.

8. Net Words by Nick Usborne

This is one of the first books to contrast writing for the web from writing in general. It is simple, relevant and challenging. This is an excellent place to start looking at your writing differently.

9. Web Copy That Sells by Maria Veloso

This book will challenge you to go beyond writing for the web, into writing to make a sale. It is the most comprehensive book I have found on the subject. What I like about this book is the emphasis it places on measurement.

10. Don't Make Me Think by Steve Krug

This book on web design and usability is aptly named and what is more impressive is the book follows its own advice. I challenge you to find a more accessible and better designed book anywhere. It will also challenge you to think about websites differently.

11. Save The Pixel by Ben Hunt

Now in its second edition, I was pleased to recently upgrade my first edition. This book is also focused on usability. It provides dozens of before and after examples of original and improved web designs. It also breaks the whole design process down into key principles to follow.

12.The Art of SEO: Mastering Search Engine Optimization by Enge, Spencer, Fishkin and Stricchiola

You don't need to become an SEO expert, but you do need to understand how it works. This is true for writers in particular, but also designers, coders and business owners. This is a hefty book and you need to spend some time wading through it to grasp how your decisions can make or break your website from an organic search perspective.

13. Landing Page Optimization by Tim Ash

Where the rubber meets the road is with landing page conversion effectiveness. How do you take an average run-of-the-mill landing page and transform it into a high performance selling machine, is the topic of discussion. This is one of the first books on the subject worth reading.

14. Advanced Web Metrics with Google Analytics by Brian Clifton

If you are not already familiar with Google Analytics and its capabilities to increase your marketing effectiveness, then you need to read this book. It takes you beyond the basics available from weblogs into what is possible with Google Analytics.

15. Always Be Testing by Eisenburg, Quarto-von Tivadar

Split testing and multi-variant analysis of a landing page's performance may be an advanced topic, but why would you bother to read all these books if you are going to stop short of the finishing line? This is the ultimate goal, where you have your marketing system up and running and you get to focus on squeezing every ounce of performance out of it. This book will give you a glimpse into where you and the rest of the competition are headed.

There You Have It

These are the top 15 most influential internet and marketing books that I am aware of after 12 years of scouring Amazon, Chapters and Google. I sincerely hope that this list saves you some time, streamlines your learning process and has a positive impact on your business and career.

If you have any questions about these books or if you would like to recommend better alternatives, please comment on this post or contact me to share your ideas.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build  Grow™ market leading companies with strategic internet marketing, social media and sales lead generation programs.

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Sunday, May 23, 2010

Biggest Leadership Mistakes Or Greatest Opportunities?

As a marketing consultant who works with entrepreneurs on start-ups and business growth initiatives, I see the same core problems repeatedly.

The problems are not technical or related to specific products or services. The problems are more fundamental, being based in leadership and planning. The problems are linear and cumulative too, meaning their implications compound or are amplified throughout our companies. Since marketing tends to be the biggest amplifier, I often get to highlight the problems, lucky me.

What Are These Problems?
The First Problem Is Ambiguity (a lack of clarity)
Many companies suffer from the absence of clear and specific definitions for who they are, whom they serve, what problems they solve, how they create value for clients and how their positioning differs from competitors. Clarity on these points is the bedrock of any company and their subsequent sales and marketing efforts. The absence of clarity here reverberates through everything that follows.

The Second Problem Is A Lack Of Commitment
Without clarity on the first set of questions, it is very difficult to commit to a business or marketing initiative. The two most common responses are to waffle and not commit or to over commit with limited justification. In both cases, hope is the strategy. Fortunately, an appropriate degree of research, planning, budgeting and forecasting is the answer.

The Third Problem Might Be Called Narcissism (a fixation on ourselves)
As entrepreneurs, we often spend too much time thinking about our product or solution. We spending an inordinate amount of time describing what we do, what we sell and how it works. While these descriptions are important and have their place, the vital questions of why a client would want the offer and how they would benefit gets lost somewhere along the way.

The Fourth Problem Is Abdication of Leadership.
Many entrepreneurs are unfamiliar with one or more key areas like sales, marketing, technology or accounting, and they would rather have someone else handle them. Rather than delegate the roles effectively, they often abdicate to consultants. This unspoken assumption leaves the consultants unaware they have become the leaders in the client's mind rather than the contractor who they perceive themselves to be. The unfortunate result is that no one ends up leading. The results are very predictable.

Why Are These Issues Such A Problem?
While these issues are not fundamentally difficult to solve, the problem is recognizing them in the first place. Since we do not know what we do not know, we focus on what we think we need, rather than what would really help.

What Are The Implications?
Because these problems are so foundational, their implications affect nearly every aspect of a business moving forward. The bottom line is these problems affect your bottom line. They encourage doubt and hedging, confuse staff and clients, extend timelines, make everything cost more and limit success in nearly every negative way imaginable.

What Are The Solutions?
The first solution is to hire a leadership or business coach to help you see what you can't see on your own. It is nearly impossible to see the outside of a box from inside the box, so get some outside perspective.

The second solution is to get clear and committed with respect to the fundamentals of your business. Get everything simplified, refined and written down on paper and in spreadsheets before you jump into action. Reaching agreement and committing to a plan of action is the end goal.

What If The Business Is Already Running, Is It Too Late?
It's never too late. The only problem with getting clear and committed after the fact is undoing the work you've already completed. It is frustrating, but the silver lining is your experience will give you greater clarity and more confidence in the answers and plans you generate.

What Do I Do Next?
If you relate to these stories, we're not surprised. Every entrepreneur deals with these issues at some point. The real question is when and how much back peddling you are prepared to deal with in the interest of moving forward?

If your desire for progress is strong, go back to the core questions and clarify them once-and-for-all.

The core questions are:
1. Who are we, and what do we a stand for?
2. How do we define our core target clients?
3. What significant problem do we solve, or opportunity do we create?
4. How do we positioning ourselves as different from competitors?
5. How do we profit from these efforts?

When your answers are clear and you commit to a specific course of action, you'll feel a renewed sense of commitment to what got you started in the first place. You will show up as more of a leader that people will choose to follow. The net result is usually a burst of acceleration in your chosen direction.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build  Grow™ market leading companies with strategic internet marketing, social media and sales lead generation programs.

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Monday, April 26, 2010

Hiring Better With Kolbe Assessments

Accrue Performance Marketing is hiring. While sharing my goals and challenges in hiring key people with a colleague, he told me "he would not even consider hiring anyone without first completing a Kolbe Assessment". I had never heard of Kolbe but I have a lot of confidence in my friend so I looked into it.

I began by completed the Kolbe A survey on myself. Over the years I have completed many self-assessments and have usually learned something about myself in the process. It was not expensive so I thought, "what do I have to lose"? I figured if nothing else I'd be able to compare and contrast Kolbe to my past evaluations.

Turns out the Kolbe Assessment is quite unique. Rather than classifying my personality, motivations, values and communication styles like DISC or Myers Briggs, it described how I do things. The tool categorizes people based on a "Conative" framework . How we approach getting things done is another way of saying it.

The Kolbe A Index accurately pegged my way of working into four categories - Fact Finder, Follow Through, Quick Start and Implementor, each of which are scored on a 1 to 10 scale. Turns out my Modus Operandi is Specifying, Adapting, Improvising and Restoring which they claim makes me an ideal fit for Entrepreneurship. Their results are hard to dispute since that is how I work and what I do.

The main premise of the index is that by understanding my natural tendencies and working in positions that take advantage of my natural traits, I will be happier, less conflicted and more productive. This premise is similar to that posed in the Strength Finder 2.0 book I like and reviewed previously.

The next step in the process was to complete a Kolbe C Index which is a tool to help define an ideal pattern of doing for the job I was hiring for. I completed a 20 minute survey and received a report defining what I was looking for in a candidate for the job in question. The report was surprisingly accurate in detailing who I was looking for in behavioral terms. Now I was intrigued. I had already been interviewing and had a short-list of candidates for the position. I had the leading candidates complete a Kolbe A index as well.

Kolbe compared the candidate's A Index, with job fit (the C Index) as well as fit with me and my management style (using my A index) and delivered a report showing overall fit. One candidate was a close match and the other much less so. In my interviews, I had an inclination of fit but nothing but my gut reaction to go on. The assessment helped put into words what my intuition was trying to tell me. That was useful.

Next we developed C-indexes for each of our job descriptions and A indexes for each of our staff. The results were very interesting. The reports accurately pegged our team and highlighted the reasons for some existing communication challenges. When all the results were shared we could see where we needed to spend more time structuring our communication and where team members had different styles and needs.

After less than a week the Kolbe system helped us resolve two significant communication issues, supported a successful hire, and defined our position requirements for the next year in a set of hiring profiles. As a team we had developed a better understanding and appreciation for each other and had a framework for working together more proactively. Our total investment was under $1,000.

Given the inherent cost and risks associated with hiring people the Kolbe A and C indexes provided us with real value. I now have a tool to help me accurately define what I am looking for in a person and a means of evaluating fit quickly, consistently and affordably. Of course it is still up to me to assess competence, and experience but Kolbe provided us with a new way to make hiring and working with people easier.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build  Grow™ market leading companies with strategic internet marketing, social media and sales lead generation programs.

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Friday, February 19, 2010

A Modern Sales Classic Spin Selling

I first read Spin Selling by Neil Rackham in 1999. Why blog about it now? Because SPIN Selling continues to be the book I recommend most often for professionals looking to increase their sales effectiveness.

SPIN SellingAlthough this book may not be the newest book on sales (it was first published in 1988) it continues to be the most relevant. I find it the most relevant because it addresses the most common sales problem. The problem I am referring to is our collective tendency to pitch what we do to clients rather than helping to facilitate solutions. This latter approach is also known as consultative selling.

In my experience there are not many people who like being pitched, but most people appreciate when you are legitimately trying to help them solve real problems. When you become skilled at leading people through a discovery process that encourages them to take on tough core problems it can result in a steady stream of new business. It’s all about fostering win/win scenarios and SPIN offers a very simple, effective framework for consistently doing this.

Spin Selling is the outcome of Neil and his team going out on roughly 35,000 sales calls over a 12 year period. His team documented the sales processes followed and distilled what worked down into the SPIN approach. The types of sales they followed were medium and large corporate clients with complex, multi-stakeholder and high value solutions. They found that success boiled down to a four step discovery process abbreviated into SPIN (situation, problem, implications, needs / pay off.)

The beauty of the SPIN framework is in breaking down a complicated consultative sales process into four simple, logical and repeatable steps. The goal of this process is to uncover the fundamental limiting issues beneath a client’s current situation. The SPIN process helps to systematically lead a client from;

  • seeing where they are now, to
  • understanding what problems are holding them back, to
  • appreciating what these issues are costing them, to
  • knowing what benefits will accrue if they invest in a solution.
I have personally followed the SPIN method since 1999 and believe in it whole heartedly. I find that this method is a highly effective way to structure consultative conversations and I follow the approach consistently. I also find that the SPIN model translates well onto campaign landing pages used in on-line sales lead generation programs.

The main limitation of the SPIN approach is that it is not a complete system for selling. It only addresses one vital portion of the sales process. It does not address sales planning, prospecting or the post meeting process for converting a successful conversation into a closed sale. For insights into these areas you need to supplement SPIN with other materials.

For a complete and integrated sales process that aligns well with SPIN I recommend the Sandler Sales Institute Sandler International who offer an excellent over all process to follow. I must have listened to their CD’s a dozen times when I was first starting out.

I also recommend the 10 Steps to Sales Success by Tim Breithaupt of Spectrain from Calgary, Alberta. Tim’s book is excellent, offering a simple and easy overall process to follow. It aligns very nicely with both SPIN and the Sandler models.

As your ultimate success in sales comes down to your ability to engage your clients in meaningful conversations; I always go back to SPIN Selling as my number one recommendation.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build  Grow™ market leading companies with strategic internet marketing, social media and sales lead generation programs.

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Wednesday, February 10, 2010

Know and Focus On Your Strengths, Says Strengths Finder 2.0

Strengths Finder 2.0
I’ve had occasion to recommend Strengths Finder 2.0 by Tom Rath several times in the last few weeks. I am also in the process of reviewing resume’s for a new position I am trying to hire for, so Strengths Finder is obviously on my mind.

I first read this book about 2 years ago and was very impressed, recommending it to at least 10 of my colleagues and buying it for several family members. Fortunately I can always find a pile of at least 20 of them at my local Chapter’s book store.

I like the Strengths Finder book for entrepreneurs for a couple reasons. The first reason is I like books that only take me an hour to read and yet have something profound to say. The second is that I like the message of the book. I find it extremely compelling, desirable and pragmatic.

The basic message is that we tend to under value what comes easiest to us. We believe that nothing good ever comes without hard work and sacrifice. As a result we orient ourselves to focus on the things we are not naturally good at. We forego our natural strengths where success might come more easily. The book makes the case that taking advantage of what we are naturally good at makes infinitely more sense, because we get to exploit our natural talents.

In developing marketing plans, we use this premise all the time. We try to determine what a company is outstanding at and make that the core competitive distinction. We orient their messaging around their strengths, where they have a legitimate competitive advantage. It only makes sense. The net result is clients who want and need that strength are attracted to the message and a cycle of reinforcement ensues.

I know when I started Accrue Performance Marketing one of my central goals was to create a company where my natural skills and interests would be exploited by the audience who would most appreciate them. The result is, I earn a living doing what I am best at and enjoy the most, while serving people I relate to and who appreciated what I do for them. I have cultivated a real win/win scenario for myself.

My path of discovering what I was naturally good at required a significant career change. I had invested 12 years (5 years of post secondary education and 7 years of professional work experience) in an area that challenged my natural abilities. When I finally saw the light, I realized that I would enjoy myself more and likely realize greater success if I went with my natural abilities. It is now eleven years later, and my business is custom built around my strengths and I do what I love for my chosen audience. I just wish this book was available when I was in high school. I might have reallocated my efforts and been happier in my work life as a result.

Strengths Finder 2.0 is a gem of a book that I am glad has resurfaced on my book shelf. When you buy the book, you get a pass code to a website that gains you access to a pretty long survey. The survey is timed which forces you to respond to each question without over thinking it. Once you complete the survey you are presented with your 5 most natural strengths. The majority of the book details the 34 strengths that you draw your top 5 personal strengths from. Each chapter outlines the strength and suggests ways to develop and apply the strength further.

My company direction was already well established before I read this book, but what this book revealed to me was evidence that I have made my new career choice well. It proceeded to detail that I would be well served by what I have chosen. The book was uncannily accurate with me.

The other benefit to knowing your strengths is that, you also identify your weaknesses and where you may want to consider adding people to complement you. This benefit is good if you, like me, are about to hire someone.

In all, I highly recommend this book for entrepreneurs, sales people, marketers, HR people or for anyone considering a change. Most emphatically, I recommend this book for students who might achieve more, be happier and reach new heights if they focused on their strengths rather than trying to compensate for their challenge areas.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build and Grow market leading companies with internet marketing, social media and sales lead generation programs.

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Sunday, January 31, 2010

Getting Started With Video and YouTube Marketing?

With video marketing becoming so popular, more affordable and favoured by search engines, you may be considering jumping onto the video band wagon, I know I am.

With YouTube having become the undisputed winner in the massive on-line video space if you are considering video marketing, you need to be learning more about YouTube.

In the last ten years I was involved in only three video projects, and just in the last year I’ve been involved in five more. I have seen the average production price of these small business videos go from $8-10K to $2-5K and now as low as $1,500. This is in the range of possibility for many small businesses.

I’m always looking for internet marketing books geared to small business owners and their on-line marketing teams. In this article, I introduce two very different YouTube books.

YouTube for Business: Online Video Marketing for Any BusinessThe first book is called YouTube For Business by Michael Miller with QUE Publishing and the second book is called YouTube and Video Marketing An Hour A Day by Greg Jarboe by Sybex and Wiley Publishing. Both books were published in 2009.
 
If you’re considering getting started with YouTube, YouTube For Business is the book to start with.
It is also the book to read if you, like me, prefer to digest books and quickly put their insights into action. YouTube For Business is pragmatic, very well organized, a quick and easy read. It provides an excellent overview of the video production and marketing process on and off YouTube.

The book follows the following outline:
  1. Marketing Your Business Online with YouTube – broken into 3 subsections 
  2. Producing Your YouTube Videos – broken into 5 subsections
  3. Managing Your YouTube Videos – broken into 3 stages
  4. Working with YouTube Video Blogs – with two subsections
  5. Promoting and Monetization – broken into three sections 
Each section concludes with a case study to provide context for the teachings.

I spent the last 3 years researching and playing with various video technologies intending to develop training videos for my Being Profitable program. This book outlined everything I learned and more in a 2-3 hour read. This book will save you a lot of time and effort and is well worth the $25 US.

I really liked this book as the recommendations it makes matched most of what I ended up buying after my own research. It provided many third party resources to review and was a breeze to read. I recommend it to anyone considering getting into YouTube and Video marketing.

The second book, YouTube and Video Marketing is a totally different animal. This is a serious 446 page book for people who intend to jump into YouTube with both feet and make video marketing work for their business.


YouTube and Video Marketing: An Hour a DayThe basic premise of this book is you take 8 months to complete an hour-per-day program, so there is a lot of content and third party resource references to look into. This book takes a completely different organizational approach with a story telling format. The story telling is helpful in that it provides context in the form of 3-4 mini case studies you can review and relate to your business.

The book reads a bit like a text book but it is very friendly and conversational. The examples and the conversation provide the most valuable contribution as it attempts to shape the way you think and approach video marketing. The second most valuable contribution made are the third party references to key resources you will need along the way. This book is full of gems to follow-up on to take your marketing program to new levels.

This book is targeted to internet marketers more than your average small business owner. However if you are serious about marketing your business with video on YouTube, this book is worth a quick read for the big picture context. It will help you see what you are getting yourself into. Then if you decide to commit to marketing with YouTube, this book will lead you through the implementation and video promotion process.

The first chapter offers a history of YouTube and the online video segment as a whole. It is very interesting and makes a compelling case to get moving with video marketing on YouTube or get left in the dust. The table of contents is 7 pages long with 12 chapters in all.
  1. A Short History of YouTube
  2. The Online Video Market
  3. Map Out Your Video Marketing Strategy
  4. Optimize Your Video
  5. Create Viral Video Content
  6. Create A Channel 
  7. Engage the YouTube Community 
  8. Learn Video Production 
  9. Become A YouTube Partner and Video Advertiser 
  10. Trust But Verify YouTube Insight 
  11. Measure Outcomes Vs. Outputs
  12. Mysteries of Online Video Revealed
Chapters 3 to 10 are broken down into four weeks each and structured into daily assignments.

Being a bit on the impatient side, there is no way I am going to follow the proposed 8 month timeline. However I think the outlined approach is very thorough and in alignment with current best practices for internet and social media marketing in general.

In summary, I enjoyed both these books. I got pragmatic “How To” direction from YouTube for Business and “What To Do” direction from YouTube and Video Marketing. If you’re considering YouTube for your business I suggest you buy YouTube For Business first. If you decide that video marketing is a fit and makes economic sense for your business, then go purchase the second book and read it cover to cover to validate and ground your thinking. If, after this wake-up call, you still intend to market with videos on YouTube, then consider working through the outlined program.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build and Grow market leading companies with internet marketing, social media and sales lead generation programs.

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Sunday, January 3, 2010

Duct Tape Marketing, A great primer for small business owners

Duct Tape Marketing: The World's Most Practical Small Business Marketing GuideI’ve had Duct Tape Marketing by John Jantsch on my reading list for 3 years and I finally got around to reading it over the holidays. I help entrepreneurs grow market leading companies in my marketing consulting and business coaching practice, so I am always looking for good books to recommend to entrepreneurs. 

The process that Duct Tape Marketing outlines is the closest match to what my company offers that I have found so far. I rate it as one of my top 5 book picks for outlining the entire small business sales and marketing process. One caution is that the coverage of each topic is very general, making it more of a road map, a good big-picture overview, than a practical how-to book.

The book starts out with the assumption that you are a small business owner about to market your business and leads you forward from there. It’s divided into two sections: The Foundation and The Lead Generation Machine. There is also a small third section with some after thoughts and resources for learning more about the topics introduced in each chapter.

The Foundation section outlines a process for getting ready to market. A priming of the lead generation pump if you will. The Lead Generation section outlines what the components of a sales lead generation promotional machine look like and how they work together to generate results. Each chapter directs you to some useful resources and tools that might help you along the way.

The book is very readable and can be digested fairly quickly. I suggest reading it once from cover to cover and then again chapter by chapter as you develop your go-to-market plan.

One of my pet peeves with nearly all marketing programs is they make the assumption that an entrepreneur is actually ready to market. Unfortunately, this book makes the same assumption. In my experience, many marketing programs begin with little to no professional due diligence; due diligence in determining if an entrepreneur’s business is sufficiently well defined and economically capable of supporting a sustained marketing effort. Without it, an entrepreneur runs the risk of wasting his limited time and money on marketing before he is ready to benefit from it. I’d like to see this book offer some wisdom in this regard to prevent costly pre-mature marketing investments.

As a marketing consultant, one of the hardest things I do after a due diligence review, is say to an entrepreneur “Your business isn’t ready for marketing yet. I’m not going to do you any favours, by helping you market until a number of issues are addressed.”

I always say to entrepreneurs, “you need to be able to answer these questions specifically and with commitment before you spend any money on marketing”:

  1. Who are you and what do you do?
  2. Whom do you serve, specifically?
  3. What core problem do you solve for your clients?
  4. What is your key competitive advantage?
  5. How does your business make money on first time sales?
The last question is the most problematic for a would-be marketer and where he often needs to rethink his plans. When an entrepreneur works out the likely cost of a sale from marketing and realizes there is no margin left in an average first sale, there is no point going further until a solution is found.

This “am I ready to market” discussion continually gets left out of marketing books. We need a more sober discussion about how time consuming, expensive and risky marketing can be. I think this book would serve its audience better if more emphasis were placed on core business definition, marketing planning, budgeting and forecasting. This would help an entrepreneur make informed decisions about how ready he is for marketing before he gets excited and jumps right in.

Despite this gap in coverage, I think Duct Tape Marketing is a very useful book for helping map out what your marketing program could look like. I also think it is a useful book to refer to as you implement your plan as it offers very practical advice at each step along the way. Just don’t be too eager to jump into marketing until you are confident that you can afford to finish what you start and can make money from the effort.

John Watson is the president of Accrue Performance Marketing Inc. and is the author of Being Profitable™ : the earnings growth program. John has been consulting since 1993. He helps entrepreneurs Design Build and Grow market leading companies.

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DESIGN

In the design stage we get you crystal clear about who you are, whom you serve, what problem you solve, what your competitive positioning is and how you intend to grow sales profitably. The Being Profitable Program is the centre post of this stage.

BUILD

The build stage is about putting the sales and marketing infrastructure in place. Websites, videos, displays, CRM, e-commerce, web analytics and social media tools like Twitter, Facebook, Linkedin, YouTube, Blogs and Stumble Upon are key structural components.

GROW

In the grow stage, we shift our focus to growing sales and developing website traffic. Search engine marketing (SEM), search engine optimization (SEO), social media and public relations play key roles in this stage along with web analytics and sales performance optimization.
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