A "Stellar Idea” will only get you so far. Time after Time I hear tons of amazing ideas for new websites, apps, products, and services. But very few are successful.

Case: Whilst speaking at a major manufacturing conference in Nashville, three very bright Entrepreneurs and a University Professor excitedly described to me, in detail, a mobile app as a front end to a system that would tie customers desiring highly customized products, I.E. suits, ladiesware, cars, and houses,  directly with the entire supply chain (design, logistics, manufacturing, delivery).  It was literately one of the best ideas I ever heard! But when I asked about their marketing plan, they simply said "Google Adwords, of course.”

Unfortunately, they didn't get very far. That was the last I ever heard of them or their mobile app.  It’s no wonder because there are billion-dollar companies bidding on their target keyword. Hence, Google Adwords is VERY EXPENSIVE, and can kill start-ups that has limited capital.

Point: Regardless of how awesome your product or service is, your marketing plan will make or break you!

Therefore, I highly recommend that you consider these eight steps prior to taking your “idea” to the market:

• Know Who Your Customer IS: Demographics, Where they go on the net, favorite color, what they drive, what they buy. Anything and Everything that would endear you to them.
• Know Your Competition and Their Capabilities – Research and study your competition like crazy!  Buy similar products / use other services to see what the market looks like.  Analyze how they market. Gather as much data as humanly possible.
• Analyze The Results – After you’ve spent some time gathering data, using the application, and getting feedback from others – look for weaknesses, trends, and missed opportunities that you can exploit.  Look for the common denominator, it’s your competitive advantage.
• Set Goals – Every Entrepreneur wants to be the next Bill Gates or Steve.  But you have to be realistic.  Before we could run, we all had to learn to crawl, then walk. Set realistic goals and stick to them as you launch your marketing plan. Keep slicing away at that pie until you get the whole pizza!
• Develop A Strategy – A football team, prior to each game, spend hours watching tape and developing a solid “game plan” for beating the opposing team.  Use those same technics whilst developing your winning marketing plan.  How are you going to beat your competition when you’re fighting for the same traffic and customers?
• Implement The Plan – This should go without saying, but if you’ve made it this far, make sure to put your plan into action.  Your own self-confidence can be your own worse enemy!  You’ll never know until your try!
• Track The Progress – Nowadays there are countless number of tools out there to track your conversion funnel from start to finish.  Make sure you’re keeping a close eye on how much you spend to gain a customer and where your sales funnel can be improved.
• Evaluate The Result – Your first marketing plan isn’t going to be your last.  You may even fail several times.  But make sure you learn something each time you run a campaign.  Even if you lose a bit of money, make up for it in knowledge.  Evaluate all of these results so you don’t make the same mistake twice.

Marketing your product or service isn't rocket science. Keep it simple, direct, and focused on accomplishing your goals and milestones.

Remember: Your awesome idea is only as awesome as your marketing strategy.  Do the work; Make it a good one!