Written by: Paul Sparrow, Area Managing Partner & CMO, and Don Lee, Partner & CEO, both of Chief Outsiders
The city of Las Vegas is an interesting study in best intentions -- resplendent with people hoping that the flip of a card or the roll of the dice will produce luck-driven riches. About 150 percent of the time, our protagonists leave with empty pockets and dashed hopes.
If luck is so evasive in Sin City, what makes anyone think it’s the foundation for any serious effort? Unfortunately, we see it all the time – a well-meaning entrepreneur or CEO employing instinct and a mega-watt smile, hoping to achieve Bezos-like success.
We need look no further than the great business prophet, Peter Drucker, who once said: “Luck never built a business. Prosperity and growth come only to the business that systematically finds and exploits its potential.”
So, for those CEOs scratching your heads about why your business isn’t growing as fast as you’d like, perhaps it’s time to set aside high-stakes gambling and apply some science – in particular, marketing science – to your growth aspirations.
A good strategic marketing plan is a foundation upon which you can build success – a tool that will educate prospects, attract customers, and retain buyers for the long term. But, like any disciplined approach, it requires some rethinking of the conventions standing in your way.
At Chief Outsiders we spend our time crisscrossing the country, meeting with CEOs who are looking for ways to jump-start their growth engine. In our experiences, there are five common obstacles to growth that recur time and again. Here are our observations:
You know, the great theologian, Mike Tyson, once said -- and this is very true: “Everyone has a plan until they get punched in the mouth.” In our world, a good strategic plan actually is built around the likelihood of receiving a punch or two – so you have a plan to avoid getting socked in the kisser, as well as one for how to react after you get slugged.
Can one of us help train you to become a marketing prize fighter? We’d love to have an exploratory conversation. Please reach out.
Paul Sparrow, Area Managing Partner & CMO, Chief Outsiders