I’ve heard constant debates in the photography industry on whether it is more important to first:
- have good gear in order to take great pictures or to
- have good marketing in order to have positive cash flow
Unfortunately, these are all decisions of bootstrapped businesses.
I’ll tell you that right off the bat that having your bottom line covered is the best approach. You wouldn’t be pressured to act a certain way if money wasn’t an issue. However, I know that that isn’t always the case.
Can You Sell Ice to Eskimos?
In the sales and marketing world, it’s a common debate on whether it’s possible to sell ice to eskimos since, obviously, ice is everywhere to them. But then again, I have seen vendors selling oxygen to patrons who aren’t in need of it for medicinal purposes.
Even though it might be possible to sell ice to eskimos (good marketing), it might be easier and more profitable to sell ice to customers in hot areas (good product). The latter is a form of competitive strategy — same product, different target audience (one that has higher willingness to pay).
Therefore, it’s crucial to understand your current situation before making your next investment. There’s no right or wrong answer. Every situation depends. In fact, most of the time, it’s not so black and white. Who said that you can’t invest in a little bit of both and stage it from there?
P.S. Even when it’s cold, I still eat ice cream. Is there something that you do that’s contradictory to the norm? Comment below!