Marketing Book for 2010 Entrepreneurs: When Growth Stalls
February 8, 2010 by Mary Ellen
“An entrepreneur is someone who can make progress in an ambiguous environment.” –Ries Robinson, chairman and CEO InLight Solutions
Author Steve McKee quoted Robinson in his book, “When Growth Stalls: How It Happens, Why You’re Stuck, and What to Do About It.” The book contains dozens of quotes and anecdotes from people who’ve been there, woven together from the perspective of a CEO confronting his own company’s stall.
Don’t be misled by McKee’s frank discussions about the big five problems: market tectronics, lack of consensus, loss of focus, loss of nerve, and marketing inconsistency. This isn’t just the story of an advertising agency derailed. When Growth Stalls offers research reflecting what happens when product- and service-oriented businesses confront real-life obstacles.
The second half of the book, McKee’s “What to do About it,” continues his meld of common sense advice, research-supported, real-life examples.
I find myself recommending When Growth Stalls with enthusiasm. What makes this business book likeable is the juxtaposition of cliché, commentary, questions and definition. Here are just a few of my favorites:
“Not my fault. Is my problem.” …McKee’s internal advice for dealing with trouble.
“The essence of strategy is choosing what not to do.”
On branding: Whatever good branding births, poor execution can kill. You can’t starve your brand. (The short-term gain of cutting the marketing budget is more than offset by the long-term problems it creates.)
On marketing:
- Effective marketing communications are 60% about likability: helping the buyer to like what you offer as well as who you are.
- The marketing equation: I choose X. I choose X is simply the way the world of buying and selling works.”
Definition: Fragflation – “As media grow more expensive and less efficient, it’s more difficult every day to seed any kind of identity in the marketplace.”
Question: Are you more opportunistic than strategic in your marketing?
Disclosure: I read “When Growth Stalls” because Steve McKee agreed to speak to MARKETLINK, a series I facilitate for WESST. I recommend When Growth Stalls because it’s relevant for entrepreneurs in an ambiguous environment.
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