{"id":31669,"date":"2021-04-04T13:21:09","date_gmt":"2021-04-04T17:21:09","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=31669"},"modified":"2021-04-11T21:44:40","modified_gmt":"2021-04-12T01:44:40","slug":"law-of-resources","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/law-of-resources\/","title":{"rendered":"The Law of Resources: A Good Idea Isn&#8217;t Enough"},"content":{"rendered":"\n<p>What is the Law of Resources? Why is having a good idea not enough in the marketing arena?<\/p>\n\n\n\n<p>Marketing is about getting your product or service into the minds of consumers, and you need resources not only to reach them in the first place but also to stay in their minds. And marketing is very expensive.<\/p>\n\n\n\n<p>Continue on to learn more about the Law of Resources.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Law of Resources <\/strong><\/h2>\n\n\n\n<p>If you have a great idea and you\u2019re ready to apply <em><a href=\"https:\/\/www.shortform.com\/blog\/the-22-immutable-laws-of-marketing\/\">The 22 Immutable Laws of Marketing<\/a><\/em> and watch your business take off, take a step back. No matter how brilliant your idea is, you need money in order to successfully market it. <strong>Marketing is about getting your product or service into the minds of consumers, and you need money not only to <em>reach <\/em>them in the first place but also to <em>stay <\/em>in their minds. <\/strong>Marketing is a constant\u2014and expensive\u2014battle. Even household names like Procter &amp; Gamble and General Motors spend billions each year to stay in consumers\u2019 minds.&nbsp;That&#8217;s why the Law of Resources is so important.<\/p>\n\n\n\n<p>Leverage your idea to find funding. You could:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Pitch venture capitalists, but be warned that few entrepreneurs secure sufficient funding this way.<\/li><li><a href=\"https:\/\/www.shortform.com\/blog\/how-to-pitch-an-idea\/\">Pitch your idea<\/a> to an existing company, in which case your best bet is to pursue smaller companies. Large companies seldom accept ideas from outside the organization.&nbsp;<\/li><li>Franchise your idea. Tom Monaghan took this route to get Domino\u2019s Pizza off the ground.&nbsp;<\/li><li>Get help from your parents or relatives, if you come from a wealthy family. Donald Trump\u2019s father had already built wealth that was critical to Donald\u2019s early success. <\/li><\/ul>\n\n\n\n<p>If your customers are other businesses, you\u2019ll still need a sizable budget but it will be considerably less than you\u2019d need for a product or service aimed at the general public. And if you\u2019re a large company that already has a big budget, use it. <strong><a href=\"https:\/\/www.shortform.com\/blog\/being-frugal\/\">Being frugal<\/a> won\u2019t earn you sales, so invest in marketing <\/strong>and follow the laws we\u2019ve discussed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Law of Resources? Why is having a good idea not enough in the marketing arena? Marketing is about getting your product or service into the minds of consumers, and you need resources not only to reach them in the first place but also to stay in their minds. And marketing is very expensive. Continue on to learn more about the Law of Resources.<\/p>\n","protected":false},"author":8,"featured_media":31681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,79,14],"tags":[257],"class_list":["post-31669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entrepreneurship","category-management","tag-the-22-immutable-laws-of-marketing","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Law of Resources: A Good Idea Isn&#039;t Enough - Shortform Books<\/title>\n<meta name=\"description\" content=\"The Law of Resources says that you need money not only to reach customers in the first place but also to stay on their minds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shortform.com\/blog\/law-of-resources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Law of Resources: A Good Idea Isn&#039;t Enough\" \/>\n<meta property=\"og:description\" content=\"The Law of Resources says that you need money not only to reach customers in the first place but also to stay on their minds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.shortform.com\/blog\/law-of-resources\/\" \/>\n<meta property=\"og:site_name\" content=\"Shortform Books\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-04T17:21:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-12T01:44:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s3.amazonaws.com\/wordpress.shortform.com\/blog\/wp-content\/uploads\/2021\/04\/empty-wallet.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1101\" \/>\n\t<meta property=\"og:image:height\" content=\"612\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hannah Aster\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hannah Aster\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.shortform.com\/blog\/law-of-resources\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/law-of-resources\/\"},\"author\":{\"name\":\"Hannah Aster\",\"@id\":\"https:\/\/www.shortform.com\/blog\/#\/schema\/person\/f39f52830e4f7039a16e45d12354542f\"},\"headline\":\"The Law of Resources: A Good Idea Isn&#8217;t Enough\",\"datePublished\":\"2021-04-04T17:21:09+00:00\",\"dateModified\":\"2021-04-12T01:44:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/law-of-resources\/\"},\"wordCount\":357,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/law-of-resources\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shortform.com\/blog\/wp-content\/uploads\/2021\/04\/empty-wallet.jpg\",\"keywords\":[\"The 22 Immutable Laws of Marketing\"],\"articleSection\":[\"Business\",\"Entrepreneurship\",\"Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.shortform.com\/blog\/law-of-resources\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.shortform.com\/blog\/law-of-resources\/\",\"url\":\"https:\/\/www.shortform.com\/blog\/law-of-resources\/\",\"name\":\"The Law of Resources: A Good Idea Isn't Enough - 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