When it comes to making a profit in any business, there are a few essential items that need to be addressed. This of course before the store front and office supplies have been purchases, and he top subject on this matter is…dollars.
Has this venture produced profits? Without profits you a simply spinning your wheels and taking up space. Now look I understand that most companies don’t see a profit within the first years but there is a reason for that. Just because that is the “norm” does not mean that is the way it should be.
If you are spending money on such vague and damaging words as branding then you are most surely on your way to failing. Branding is for huge entities, with huge budgets to match.
That is how they are able to splatter their message all over the place and become that household name. But in the beginning stages they weren’t worried about becoming a household name, they wanted to make profits! That is how you can build up enough steam and capital to increase your spending budget.
Here is a clip of what billionaires have to say about business and I suggest you not turn a blind eye or ear to them.
Once you put all of your efforts into cutting cost and raising profits, that is when and only when you will be able to go out and begin a mass advertising campaign in order to expand and keep up with the demand for your product or service.
I know some people don’t want to cut costs because it is part of their “brand” but in the beginning you may have to have your American made product manufactured in China. If I’m correct, a recipe is considered homemade if you only add 3 ingredients to a store bought product and I am extremely confident that adding American pieces to an offshore product can give you that title while not burying yourself in debt.
In closing business is about making money first and foremost. Once you have accumulated enough assets and capital then all of the other charitable and true to the heart concepts can be pursued.