Bad advice for entrepreneurs: 6 of 7
 

Awareness, awareness, awareness

Direct marketing is almost always the most cost-effective way for young companies to communicate. It allows them to test many different approaches, each on a small scale.

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Internet has already lowered the cost of direct marketing by orders of magnitude and this process seems likely to continue for a long time.

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Media exposure typically has a greater effect on an entrepreneur’s ego than on prospective customers. Moreover, editorial coverage is not really “free” and is its value is not always commensurate with the time it takes to get journalists’ attention. Entrepreneurs seldom have enough time to do this well.

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Some institutional investors encourage entrepreneurs to maximize editorial coverage at all costs. Who stands to benefit most is unclear.

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Bad advice
for entrepreneurs
A few
success stories
Our team Home
"You will need at
least a million..."
Technology is what
really counts.
The "first mover"
myth
Your national
market is a
natural platform.
Start in high gear.
Awareness,
awareness, awareness
You must have
an exit strategy.