So do you know anyone who, (either) currently sells mutual fund investments, and or has ever had any mutual fund investments?
And right about now, you’re probably wondering, what (if anything) this has to do with strategically growing your small business and or service, right?
(Hang on, that is about to be revealed.)
So if do have any current knowledge about type of mutual fund investing, you’re probably already familiar with some of the main players, (like) the commissioned brokers, who are constantly churning, in and out of various stocks within your portfolio, looking for ever increasingly higher rates of returns, correct?
Believe it not, whether your small business,and or service is marketed primarily on or offline, you’re utilizing a similar process, (or) you should be, to help you decide “how to” best market your products and services.
In order for you to maximize your overall, short and long term profit potential .
So What Is This Potentially Profitable Marketing Lesson Extremely Savvy Small Business Owners Can And Should Learn From Mutual Fund Investors?
So the theory is, those extremely savvy mutual fund investment managers, constantly move their clients money, from one, (so called) promising fund, (group of stocks) to another, in order to create or maintain, maximum returns for their client base.
And by the same token, think about how, your typical offline small business retailer, decides on which, if any, social media platform to use, and or continue using.
So they may initially start off using, more like dabbling, in social media, using the big three.Primarily, Facebook, twitter and LinkedIn.And depending on how it goes, they may quickly decide, twitter isn’t panning out, and since Facebook is so incredibly popular, (and they know) a ton of their audience is already utilizing it,they’ll devote the majority of their time on Facebook and the remainder on LinkedIn.
And by the same token, they will make similar decisions, with regards, to which outrageously expensive, traditional advertising mediums, they should initially use and or continue using etc.
Case in point; they may initially start advertising, using local radio, TV and or newspapers, and quickly determine, one or none of them are worth going any further with!
There Are Several Small Business Marketing Tips Which Flat Out Makes Sense!
Consider this, you’ve got an offline small business, which is a retail store.And you’ve got a modest amount of floor space, made up of various displays and bins etc.
But here’s the thing entrepreneur, you have one particular floor display, which (both) you and the wife (the co-owner) of the business, really love!
And it currently takes up about 40% of your available floor space.But the retail product you sell, only has a gross profit margin of just 12.50%!
On the other hand, you’ve got another area of your store, and that display only takes up 20% of your available floor space, but it has an overall gross profit margin of 43%!
Hopefully, you see and get the point right?Just like the aggressive mutual fund manager, would not allow, 40% of your portfolio, to remain in an under performing fund, right?
When they can, and should move more of your money, from the 40% under performing stocks, into the the better performing, 20% of your portfolio!
Your Small Business Will Only Perform As Good As The Assets You’re Invested In!(Right?)
So just like the savvy mutual fund manger, has to constantly monitor the various funds, they place your money, in order to maximize your overall returns.
So to (do you) entrepreneur, have to constantly monitor, the various, conventional and non conventional advertising, and or marketing mediums,in order to accurately decide, which if any, deserve further investment, effort and or resource allocation etc.
Because on any given day, as you take accurate inventory, you will definitely discover, one traditional advertising medium, definitely deserves more resources, than another.
And one particular social media platform, should probably be eliminated altogether!And by the same token, it may finally make sense, for the offline business to drop their annual yellow page advertising budget altogether!
And instead, opt for some type of proven strategy, that takes advantage of them being found online, through some type of local, free (organic) search. Or paid PPC (Pay Per Click) ad campaign.
And while one offline greeting of brand new first time customers, works like total gangbusters, while another totally sucks!It’s your job, as an extremely savvy small business owner/entrepreneur, to accurately monitor these daily,weekly and or quarterly changes, and make your decisions accordingly!
Successful mutual fund managers do it all the time!Shouldn’t you be using this proven system too?Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
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