Starting up a small business can be very complicated. As you navigate the road to opening your company, you are sure to hear advice from just about everyone. Still, you don’t want to implement a massive adjustment to your plan simply because your neighbor’s cousin’s best-friend told you it was a good idea. You want to make sure that you are marketing your business based on proven results rather than hearsay. It is easy to fall into the trap of common marketing misconceptions, especially when you first start up your company. Keep reading to discover some mistakes to avoid.
Unwilling to Invest
We get it; when starting up your business, you want to invest your money in yourself, not other companies or products. But the truth is, an investment in a suitable product or service is an investment in yourself. Without an investment in marketing, you simply cannot expect your business to grow. A marketing approach, including Facebook or Google Ads, can seem scary if you’ve never utilized them before. Still, they can very quickly become profitable, especially if you are consistent with your campaigns. Remember, an investment in marketing is an investment in your future.
Not Tracking Performance
You have a lot to do when starting up your business, and it can be easy to let performance tracking fall to the wayside. It would be best if you tracked from the very beginning to have a clear picture of growth. If you do not follow your performance, you will have no baseline for comparison and will ultimately be left wondering whether your tactics are working.
Unwilling to Adapt or Change
When you first started your business, you had a clear picture in your mind of precisely what you wanted your company to look like and how it should be run; however, things change over time, and you have to be willing to change with it. Sometimes the business model or plan that you initially conceived can result in a much better one over time due to evolution. So, be willing to allow your business to change and grow, and don’t hold on to an “ideal version” of the company.
Now that you have a better idea of how to start a business, let’s focus on what you can do to improve. One of the best ways to ensure that you do not fall into these common pitfalls is to hire a marketing team that you can trust to know the industry’s best practices. Have any other words of advice for small businesses? Share them with us in the comments below.