Featured Coaching Excerpt - Notes & Transcript, Part 1
Lesson Nugget: Self-promotion and marketing are the defining pieces of taking your business to a level that you would never get to without it.
Lesson Nugget: If you want to continue having customers, never stop marketing your business.
5 Mindsets A Successful Franchise Owner Must Have: 5. You must be a tireless self-promoter.
"Notable Quotable: Marketing is too important to be left to the marketing department." David Packard
[MUSIC PLAYING] learn how to start a business like you watch netflix
-Now Terry, mindset number five. Mindset number five. The big five. Here we go. This is the final one. Is you must be a tireless self-promoter.
Now Terry, DavidPackard-- this is the guy who's the co-founder of Hewlett Packard-- he's famous for saying, "marketing is too important to be left to the marketing department." In my mind, one of the saddest things I see, is where somebody will buy a franchise, whether it be a sign company, or a gym, or an insurance business, or whatever kind of franchise they buy, and they don't market. They don't buy ads, they don't pass out business cards, they don't tell people, and they're just waiting for the phone to ring.
But in your mind, how important is it when your learning how to start a business? You've been in this industry for years. How important is it for the owner of the successful franchise to always be unapologetically promoting their business and encouraging their staff to promote the business?
-It makes a difference. It's really, it's the defining piece that will move your business to a level that it'll never accomplish without it. And having that mindset about being relentless about it is key. Because marketing is really the engine that's going to continually drive. So you don't have these roller coaster types of results of putting some money in.
It's like farming. You go out and plant the seeds. and then some people go back tomorrow and dig up the seed to see if it's growing yet, or a week later. In the meantime, they haven't watered it, haven't fertilized it, and they wonder why the crop doesn't come in. Marketing is the basic principle of continually farming using those kinds of principles to make sure the harvest is always there.
-You just said this-- something magical I think. I had a light bulb that kind of went off there.
Like, I know in marketing there's a lot of small business owners. And I've consulted with them over the years. And you have too. And you have considerably more experience than I have. But what I see, I remember working the first time with a doctor.
And he had said, yep, we've completed the marketing. Well in my mind that's blasphemy. We are never done marketing. The farmer is never done what, tilling the soil, planting the seed, watering, harvesting, this is over, and over, and over.
And he said, well we're done marketing. And so year two-- after that great first year, he's like, we're done marketing. Because we're going to focus right now on just taking care customers. But what you're saying, is it's a consistent, just like farming. I mean, it's year after year.
-As long as you have a desire to have the crops come in, you're going to need to continue to market relentlessly. And look how relentless farmers are in the way they approach that?
-That's a great way to think about it. If you're watching this and maybe you're kind of guilty of pulling off the-- you're done planting seeds for a while because you're trying to focus on harvesting right now. It's important that we never stop that process of farming and marketing there.
Terry I appreciate your time more than you know. And I know that there are people who pay thousands and thousands of dollars in consulting fees for people like yourself to help them. And I think it's awesome that people can go online and have some of these insights from your 30-some-odd years in the business.
The only thing I question, is how you've been able to have 30 years in the business when you're just now turning 27. I don't understand. Is it a lot of fish oil? Is that what keeps you looking so youthful?
-Yeah, that's that super longevity program I'm in.