The article emphasizes the importance of distinguishing between skill and business acumen for entrepreneurs. It outlines that production capital, which includes costs for raw materials and labor, is critical for creating products. However, merely being able to produce goods does not equate to having a business; sales and marketing are essential to transform skills into a profitable venture. Marketing is highlighted as vital for businesses to communicate their value to potential customers effectively, showcasing that larger companies invest heavily in advertising for this purpose.
When you put that amount of money down, you are able to produce a good shoe.
The ability to produce does not give you a business, it only gives you a skill. It is the ability to sell what has been produced that gives you a business.
Marketing is simply your ability to show people that you are good at something that can either benefit their lives or solve their problems.
When next you see these big companies running their adverts on TVs and radio stations, using very huge amount of money, know that they are not fools.
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