A situation that continuously reoccurs in the growth plan
for an emerging business is the lack of a well thought out marketing and sales
process. Many Entrepreneurs have a vast amount of product knowledge and a
pretty good understanding of the industry that they are going to represent.
Many times I find that the weaknesses are taking it to a market place and
positioning a company to be competitive in the respective market. This seems to
be the largest challenge. Keep in mind that until someone sells something there
is nothing for anyone to do. I talked with a family owned company the other day
in which there are four principles. Three of them have a considerable amount of
industry knowledge but no one in the firm wants to tackle the marketing and
sales. There needs to be a strong presence in the sales and marketing field in
order to for a company to be successful.
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