The Four Basic Areas Of Business
Marketing – Sales – Operations – Finance
I’ve built & sold four companies and I wished that someone had pointed this out at the very start of my entrepreneurial journey. I’ll guarantee that the sale prices would have been much higher for each & every one of those companies if I’d understood this simple company structure.
Hopefully over the next sections of our website you’ll grow to appreciate the importance of following this simple business structure but, as an overview…….
Unless you own a marketing business you’ll always start in operations as that’s the area you know & understand. If you’re a plumber you’ll start by taking on plumbing work for friends, family & previous business contacts. The same would apply if your chosen profession is floristry or financial services & there’s nothing wrong with this. The number one requirement for your fledgling business is to generate an income.
But as soon as this is achieved ....
you need to invest in stage 1
which is marketing. Once multiple potential clients understand what you’re offering and understand it meets a need they have, then you have enquiries.
Now you can move to stage 2,
Sales. It sounds obvious but unless you focus on your sales process, many of those enquiries will wither on the vine and all that marketing effort will be wasted.
