There’s an old adage “Build it and they will come”. I’m not sure where it originates from but it was popularised by James Earl Jones, playing Terence Mann, when speaking to Ray Kinsella, played by Kevin Costner, in the film: Field of Dreams.
I’ve heard this seen and heard this idea used in business, particularly by retail or e-commerce websites or hotels or restaurants.
However, this particular sentiment leaves me with the questions: Come where? And, how will they know where to come to?
‘Build it and they will come’ leaves too much to chance. Too often have I seen business owners and managers take refuge in or get caught up finessing or fretting about their product/process/service or technology or website and forget about finding, attracting and securing customers. This can be a very natural thing to do as more often than not it is the delivery of something that has taken you into business in the first place.
However, although I tend to forget the finer details of many of the economic theories that I have learnt in the past (I am an economist by training so please do forgive me!), I never forget the fundamental concept of supply and demand.
Marketing (and I include selling in this) is the demand part of the equation and is of equal importance to everything you do to ensure that you supply great products, services or experiences to your customers. Without demand there will be nobody to supply to or rather you leave your ability to supply too much to chance. It’s basic economics.
Are you leaving too much to chance in your business?