Differentiating the Component Parts of Business
As we demonstrated with our treatment of “Science,” defining the words we use is the gateway to clarity and understanding. Similarly, we can make discoveries in the area of doing business by identifying and differentiating its component parts and the individual skill sets needed for each.
Marketing – determining an opportunity in the marketplace.
Note: The purpose of marketing is to identify a “hole” in the marketplace. This is done by studying trends and gaining customer feedback through surveys and interviews.
Organizing – forming the company and assembling the management team.
Note: If done properly, the company is formed to fill a “hole” in the marketplace.
Positioning – where a company, product or service fits in with the competition.
Note: There are optimum market positions for every company, product and service.
Packaging – how a company, product or service appears.
Note: To be effective, packaging must be congruent with the market positions selected.
Advertising – how a company, product or service is presented.
Note: The purpose of advertisement is to establish wanted positions in the marketplace.
Leading – supervisors responsible for getting a job done.
Note: Strategies and tactics that cooperate with human nature work best.
Hiring – identifying the best candidate for a specific job function.
Note: Humanology® reveals there are 6 unique social personalities, and one is best for each particular work responsibility.
Motivating – how to bring out the best in employees.
Note: Certain tactics, words and ideas are best when appealing to each of the 6 unique social personalities.
Selling – getting a prospective customer to make a purchasing decision.
Note: The selling cycle as traditionally taught is incorrect. With the correct selling cycle, there is no pressure in a selling situation.
Distributing – where and how a product or service can be purchased.
Note: Distributing is about logistics and managing time, space, cash flow, and cost of flooring and transporation.
Service – customer retention by keeping promises made
Note: Good service is dependent on the proper training of quality personnel.
Support – brand elevation through education and assistance.
Note: Good service is dependent on the proper training of quality personnel.
Analysis
Having established an accurate vocabulary, we can move forward with confidence that we will make important discoveries relevant to starting and running a business.
To illustrate, the word “marketing” has a unique place in the vocabulary of doing business. Yet, many people use it to represent something else. For example, many salespeople use the word “marketing” as opposed to “sales” when describing what they do for work.
Note: Typically people use the word “marketing” incorrectly for one of two reasons. The first is they are unaware of the actual definition of “marketing” from not having differentiated the various terms relevant to doing business. The second reason they use the word “marketing” rather than “sales” is because it makes them feel better about what they do.
With so many aspects to “doing business,” we have to focus on areas that can make the biggest difference to a company. The subsequent links on the vertical menu reflect those areas of doing business in which we can improve individual and team performance significantly.