What can entrepreneurs learn from the sale of Gareth Bale?

In the week that a fairly unassuming Welshman became the world’s most expensive footballer there are some clear lessons for entrepreneurs and business owners from the sales process.

1. Find your niche

Not every club in the football world could afford to be in the market for Gareth Bale – similarly you should find the most appropriate niche for your products and services ensuring that it is a profitable one.

2. Communicate effectively with your target audience

Be laser focused on who you are speaking to and communicate effectively with them.

3. Don’t worry about those outside of your target audience

When establishing your business trying to be all things to all people will not be an effective approach nor will concerning yourself with those outside of your target audience.

4. Be sure of your pricing strategy

It seems strange to think of a pricing strategy and value proposition for a footballer but I am sure it played a part. This will also stand you in good stead with your business – ensure that you execution is consistent with both your price and value proposition.

5. Re-invest profits into your business

The Tottenham chairman Daniel Levy has been quick to re-invest profits back into the business and this is a practice that entrepreneurs must replicate if they are to grow sustainable businesses.

There is no guarantee that everything will work out perfectly in business or in Madrid or Tottenham but by following an appropriate strategy and executing well you give yourself a much better chance of success. In the words of Warren Buffett –

“In the business world, the rearview mirror is always clearer that the windshield. ”

Do you need help communicating more effectively with your target audience? We would be happy to help so feel free to give us a call on +44 (0) 845 2264 247 or drop us an email via mail@marketingfundamentals.com – We look forward to hearing from you.

We hope you have found this information useful.

Best regards,

Marketing Fundamentals Team

Not sure who Gareth Bale is ? Click here

Image courtesy of ITV.com