Here’s the number one problem most entrepreneurs have…
...and why most of them can’t produce enough sales for their business.
They fall in love with their ideas.
Everyone gets excited over the idea. Everyone loves coming up with new ideas.
But the reason why some businesses end up failing...or never become a reality... is because they get stuck on their ideas.
They fail to adapt or they fail to recognize this aspect of business…
Marketing.
Everyone knows marketing is important. But I don’t think most people understand HOW important marketing is.
I think it’s one of the most under-appreciated aspects of someone’s business.
People love shows like Shark Tank. But now they think business is all about the ideas and raising capital.
So here’s what you need to do instead when you have a new idea...
Pay attention to this because it might save you a lot of time and money in the future…
Before you move on with a new idea…
Think about how marketable the idea is.
There’s a common term in marketing called CPA (cost per acquisition). It’s how much it costs you to get a customer.
And It’s one of the most important numbers to know in your business, if not THE MOST important.
You can have the most brilliant idea in the world. BUT if your CPA is greater than what you’re selling the product/service for…
Then you’re already dead in the water. There’s zero chance your business survives.
So whenever I think of a new idea, I think about how marketable the idea is.
A lot of people jump in with both feet before they think about the marketing…
And they end up paying for it later.
I know a guy who sunk $1 million into building an app before testing it out in the market…
I’ll tell you that story another time. Don’t be like that guy.
When you brainstorm the idea, brainstorm the marketing too.