More money, more problems

Outspending your competition doesn’t always guarantee success. Leicester City won the Premiership League with a fifth of the payroll of the top clubs.

What wins is better thinking. The San Antonio Spurs are good every year because of Gregg Popovich. He finds the right talent and makes the players play as a unit, for each other, and above all, to win the hearts of their fans.

What money assures is more marketing, more awareness, which the end-product must justify. If the product fails to meet expectations, you’ll not only lose the customer’s trust; they’ll share the bad experience with their friends. Prospects may come easy, but they leave even faster, never to become repeat patrons again.

The best business seems to be a unique offering in combination with beneficial word-of-mouth marketing. If you gain the trust of enough customers, they’ll spread the word for you both offline and online.

Throwing money at the problem to gain attention is a short-term solution. The band-aid always comes loose. More money does not guarantee better thinking. For that, you need to hire a good coach and an even better accountant.

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By Wells Baum

Wells Baum is a daily blogger who writes about Life & Arts. He's also the author of and four books.