Naturally, entrepreneurs and even modern consumers believe that the value of a business is based on the product. The better your product is, the more money you will make. Sure, it helps to have a great product that is reliable and does what it’s supposed to do.
However, the real game changer here is how you market yourself and your business. It’s about branding yourself to the highest extent and positioning your business to the right market.
Take one of the most respected classical musicians in the world, violinist Joshua Bell.
He has one of the oldest and most beautiful sounding violins in the world to match his title as one of the most classical and finest violinists in the world. A violin that is worth over $3 million to be exact.
He and his Stradivarius violin has made him over millions of dollars, but it’s all in his positioning and how he markets his music.
As one of the most popular classical musicians, he was asked to complete a study to see just how important marketing and positioning was in business. So he set out to play at the local subway station with just him, his Stradivarius violin, and the case open to collect money.
As people walked by and listened to his beautiful music, they would throw some change in his violin case.
By the end of that day, he only made a total of $32. The same famous violinist with the same famous violin, however, he had made way less than he ever would have if he were playing at a normal concert.
So, what was the difference in this situation?
It was all in the positioning and where he marketed his music. While the famous musician is usually able to make nearly $60,000 or more per hour and sell out an entire arena, on this particular day at this particular setting, he only made a grand total of $32.
It goes to show how important marketing in front of the right audience truly makes a difference in how much you can make, regardless of the service or product.
In the case of other entrepreneurs and business owners, it’s the same story. If you position yourself in front of the wrong market, then you will only make what that market thinks you are worth.
It’s all about target marketing and positioning yourself in front of the right market. However, you also have to provide amazing results from your product or service to get paid what you deserve. You can’t expect to position yourself as the top expert when you have nothing to back that up with.
No matter what business you are in, the strategy is the same.
If you want to make more money in your business, you have to position yourself and your product or service in front of consumers that see the worth and value of what you provide.
Are you selling yourself short by positioning yourself to the wrong market? What’s stopping you from marketing yourself to a more valued and respected audience? Increase your worth and position yourself properly – soon enough you will see a huge difference.