Ep. 241 The Most Important Law of Marketing

Published: Nov. 15, 2021, 8:45 a.m.

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There are a few reasons why so many entrepreneurs fail. I believe that lack of marketing is the biggest one. And that\\u2019s also what entrepreneurs think. According to CBInsight Post-Mortem research, 42% of the entrepreneurs who failed said the number one reason for their failure was \\u2018No market need.\\u2019

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Finding the market need is, as I see it, the first and most important role of marketing. It always starts there. It\\u2019s all about where is the biggest market opportunity at the current stage of the company. Any company. Otherwise, you might try to go in the wrong direction.

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OK. Let\\u2019s admit it. What would you say if I asked you what is marketing? You would probably tell me it\\u2019s lead generation, social media, building a brand, or the like.

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And you are right.

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Marketing is everything you need to do to get customers and build your brand. In order to succeed in doing so, you need two things. First, you need to understand who your target audience - your potential customers are... Second, comes the most important law of marketing; The law of Focus.

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There is an old legend about a farmer that went to the market and bought a golden hoe. This hoe has the power of digging 100 holes in the ground. So the farmer took the hoe and drilled one hundred small holes all over his farm. Instead, he could use the golden hoe to dig in one place, and then he would have a deep excavation where he could build a swimming pool or another room to his house.

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The same is with marketing activities; you can try and do hundred different activities to different audiences with different messages, and you will get zero effect. But you can do a few larger activities for your most potential customers with the correct message and create a most successful company and brand.

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In our episode today, I chose to focus on three entrepreneurs that chose to focus on one direction and won the game.

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Michael Nemeroff saved the financial future of the family and says: \\u201cWe do one thing\\u2014quickly. That\\u2019s our success.\\u201d It called focus!

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Michael Nemeroff is the CEO and co-founder of RushOrderTees, a fast growing eCommerce custom t-shirt printing and apparel company. Founded in 2002 when Michael was only 17 with his brother and sister, RushOrderTees specializes in screen printing and embroidering services for everyone from teams to small businesses to Fortune 500 companies.

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Over the past 18 years, the company has focused on the customer experience by streamlining the entire process with its innovative design studio, incredible service, and the quickest deliveries in the industry.

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Michael\\u2019s career and story

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  • This is probably the third business that I started.
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  • It was like a combination of being on the computer, being a fast typer, and getting lucky that my brother took the first design course, didn\\u2019t want to do his homework, and gave it to me.
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  • I turned it into affiliate marketing. I had a need to make money because that\\u2019s what we needed to survive.
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  • My dad was kind of done, shutting down his business with my mom and Ben, his friend said to him, \\u201cYou\\u2019re a great sales guy. Come on the road with me door to door. We\\u2019ll sell shirts to pizza shops and restaurants. I\\u2019ll show you exactly how it works, where to get the shirts, where to get them printed, and you can be making money this week.\\u201d
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  • Initially, my dad didn\\u2019t have the mindset to do it but then my brother pushed him to do it. And he actually got in the car with them. In the first two days, they sold three different places. I think it was like making about $1,500.
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  • I launched a website...'