WHY KENNY ROGERíS GAMBLER SONG MAKE A LOT OF BUSINESS SENSE

The other day I was listening to music and Kenny Roger’s song The Gambler was playing. I had not listened to this song for quite a while and my mind was captivated by that song for a while. This song had a business idea for any entrepreneur in the world.

The song says that every gambler knows the secret for surviving. What if the song says every marketer or business know the secret for survival? What would be the secret for survival would it be good customer service, superior products, or would it be sound financial management?

The gambler song is an entire business toolkit, with tips ranging from business plan, market intelligence, to customer service as well as a sound business strategy.

Market intelligence and market research: First the gambler knows the competitions cards by the way they held their faces. This is a strategy in business, you tell what the competition is about to do by their current action.

If the competitors are purchasing a new plant it means that they want more market share. If they get a new financial partner or more money, they could even be targeting your customer with a new product, or they want to diversify

By reading your competitors action you can tell their strategy. Market intelligence and market research should provide you with that information. Make it your business to know any changes in the environment. You need to read your competitors face and know their cards. You need to read more, feel more and open your eyes to read the competition.

Understanding the market: For you to play the game, you need to learn how to play it right. For me this means you need to understand the facets of your market, your industry and your products.

You need to know when to walk away, when to run. This means that you need to understand your business and your market to know when to change tactic, when to change product, when to attack your competitors.

Knowing what to throw away, knowing what to keep. This is basically market segmentation. In segmentation you need to know which segments will give the best returns and the most profitable segments.

You got to know which customer to keep, which to ignore and weed away. Better have fewer happy customers than have a full bunch of customers who are not happy.

Financial: The song even mention things on financial. You never expose yourself by counting money during the deal. This is because it will expose your financial situation; you need to be discrete with financial issues as well taking caution on anything regarding your financial position.

For me it is superior market know-how through feeling the market which includes market understanding through intelligence gathering and market research, good customer satisfaction and planning is the secret for survival for any on-line business.

The moral of the Gambler Song is, think like gambler, act the gambler and you will see your business grow to new heights.

Author:.

Francis Kamau has been in the marketing field for over 13 years. He has a wide range of experience ranging from market segmentation to marketing research. With a wide knowledge on marketing in Africa, Francis has been critical in developing strategies for multinational companies. For more tips on marketing, marketing research, sales and strategic planning visit Market Strategic Expert at http://cashmoneylink.blogspot.com

Go Deeper | Website

Want More?

 
New Graphic
Subscriber Counter