Episode Transcript

Hey what’s up? What’s up? What’s up everybody? Welcome back to THE a.m guys. Welcome back to five minute rants. I’m your host, Michael Abernathy. And welcome back to the show predicated on the journey of life and business. Hey guys real quick, if you would partner with me in changing lives, if you know somebody whose life would be bettered, or improved by listening to the show, would you share it with them? If not, if you guys could just rate and leave a review for the show, I appreciate it.

So one of the things I will really want to talk about that I think is important and has been important for my personal journey, is the question of marketing versus offering. And offering just to define is really What you’re selling. But it’s not just What you’re selling, it encompasses every aspect of it, the process to production, all those things, okay. And then marketing is really actually simple terms, connecting with people who are interested in purchasing your product, or who have a need that your product or service would fill. And it’s just connected with them.

And when Andrew and I started in business, we became hyper offering focused, and which is not bad, right? It’s not bad to be really focused on your offering from that side. But it becomes a problem when you begin to neglect everything else. And so when we first started business, we neglected the marketing, we neglected the actual connection side of the business and the distribution side. So money is really in business only made through distribution. And if you’re focused on distribution, you’re gonna make money, right. However, if you’re selling a product or service, you need something to sell. But if you’ve got something to sell, and you don’t have distribution, you’re not making money. And so there’s this balance of where everything either breaks and falls apart, because you’re too focused on one and not doing enough of one, or you’re poor, you’re simply leaving one out completely like What we did. So when we first started, we were just building an offering. And we didn’t really mark it. So I went networking, but there was no marketing done. And as a result, we really suffered in What we did.

And it was so interesting, because the solution was so simple, because it was like, Hey, you just start marketing, everything’s going to grow and change, right. And it’s interesting, because we chose to be hyper focused on offering now we’ve done a lot of work for people and, you know, talking to them about their journeys and where they’ve been What they’ve come from, a lot of people have actually started another side where they really focus on the marketing, but they never really develop or craft the offering or the product that they’re selling. And as a result, they end up breaking that way. And I’m bringing this up, because the real balance to all this is key for success.

Because if you’re starting out in business, and you’re new, you need marketing, nobody’s going to buy from you first, if they don’t even know you exist. Second, they’re not going to buy from you, if they don’t know What you’re trying to sell. And if you don’t know What you’re trying to sell, they’re most certainly not going to know What you’re going to try and sell to them. And so when you’re studying entrepreneurship, starting out your entrepreneurship journey, or you’re starting out in business, it is so important to have a balance focused on marketing. And you’re offering you’ve got to build and craft both. And this is where cash flow and infusions of cash flow normally come into companies, people go in and have a big influx of cash flow, right to produce these things for them. But if you don’t have that option to you, if you don’t have cash flow open, if you don’t have credit, or live investing, or if you’re just against that idea, you’ve really got to do both yourself.

And if you are going to develop any sort of skill set in entrepreneurship outside of leadership and management, the two best skill sets, in my opinion to really develop are learning how to build and craft an offering. And then learning how to do marketing. And if you have those two skill sets, no matter where you go, or What you do, whether it’s to another job, whether it’s open another company later on down the road, let’s just say this one fails, and you’ve got to start over. Because that’s a real reality, you have two very valuable skill sets that will take you forward no matter where you go. And you can apply them anywhere. And so you’ve really got to learn marketing. Here’s the thing, if you’re a one man shop, it’s like when are you going to do marketing? When are you going to do this? Well, this is where it comes in to where you’re actually gonna have to put in more time and hours unless you have the cash flow to bring on a team member, or the cash flow to bring on an agency. But if you’re gonna bring on an agency, it’s important to learn from them. It’s important to learn the skill set.

The same thing with an offering, you’re going to have to learn how to craft your offering, you’re going to have to learn how to actually tell the story of What you’re selling. You’re going to have to learn how to actually craft the solution. You’re providing people be able to communicate it and then be able to produce it at the end of the day. If it’s a service, or even if it’s a product like hey, this is What we’re selling. This is the problem that solves all that’s got to be communicated and crafted out and One is normally more natural to somebody than the other marketing might come more naturally or crafting offering might come more natural. You got to find out What you’re strong in and What you’re weak in. And then you got to spend more time on What you’re weak in because you’ve really got to have a well balanced, like dynamic between the two of these in order to be successful.

So anyways, I’m out of time guys, so I’ll catch you later peace.