The first paragraph of this article provides a succinct summary of its content. It discusses the concept of "priming the pump" in business, particularly in the digital realm. The article emphasizes the importance of investing in your business, especially in marketing and advertising, to ensure its success. It also offers practical advice on how to effectively market your business online, highlighting the importance of having your own domain, utilizing Ezines or Newsletters, and maintaining a consistent advertising presence.
Just as you need to prime a well pump by adding a little water to get a lot out, the same principle applies in business. This is especially true in the digital world. Assuming you have a quality product that is competitively priced, the challenge lies in marketing it effectively to generate profit. Some entrepreneurs mistakenly believe that simply creating a webpage will attract customers. Others rely solely on free advertising methods.
Imagine walking down a dimly lit street and a stranger offers to sell you a valuable watch for $15. Most people would decline the offer. The same skepticism applies online. To succeed in the digital business world, you need to establish a reputation. This can be challenging, especially when competing against established businesses with substantial advertising budgets.
The internet, however, levels the playing field for small entrepreneurs. It offers numerous niche markets where you can advertise at a low cost. Instead of trying to compete with big businesses and their massive advertising budgets, you can focus on targeting your specific market to maximize your return on investment.
To become known in the digital world, start by getting rid of your free email account. Next, register your own domain. There are companies that offer competitive rates for domain registration and basic website hosting. If these costs strain your budget, you might need to reconsider your business plan.
Find a few Ezines or Newsletters with a substantial circulation in your target market. Remember, it's better to reach 5,000 potential customers who are interested in your product than 100,000 who are not. Consistently advertise in these publications to increase your visibility. One-time ads are not effective. Your ad needs to appear in at least seven issues to make an impact.
If you can't afford a minimal advertising budget, you're not really in business. You're pursuing a hobby. While some free ads can be effective, they can't be submitted in large quantities. So, forget about automatic submission software. It's a waste of money.
Once you've primed the pump by investing in your business, you can expect to see results. Like any successful business, reinvesting your earnings in additional advertising will lead to growth. Soon, your cup will overflow.
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