7 Mistake To Avoid When Marketing Your Business

Many people rush into business thinking that it is easy to manage, but quickly discover that it is not as easy as it sounds. A successful company is a fine-tuned machine. In order for your business to run smoothly, it is important to avoid mistakes.

These are the 7 most common mistakes to avoid:

Lack of clear objectives

Many entrepreneurs start a company without clear objectives. They don’t set realistic goals for their marketing and therefore set themselves up for failure. It is important to make a list of goals and objectives based on a quarterly schedule. When you don’t have business goals and objectives, it’s like a car driving without a schedule. Make sure all employees know the goals of the company. If your people aren’t properly trained, you won’t be able to achieve your business goals.

Neglecting an analysis of potential customers

This is a huge mistake that can cause a lot of problems. If you do not analyze the wants and needs of your customers, you will not know what products and services to develop for them. As a result, you are targeting the wrong market and you don’t understand your own niche. It is important for any business to conduct its marketing analysis so that it can target its market and maximize its sales.

Not testing

If you don’t split test your sales copy and the jobs you advertise with your ad, you will lose sales. Split testing is easy to do, but many companies don’t. This wastes a lot of time and effort. If you don’t test your ad copy and marketing campaigns, you won’t have a clear idea of ​​what ads and promotions will or won’t attract. It’s easy to do by having two ads for the same product in one post or one website, etc. Below you can see which one does it best.

Failing to budget

Budgeting is extremely important in business. Your business should never run out of money. This is especially true for your marketing and advertising projects. It’s hard to repair money problems, so having a monthly or quarterly budget for your marketing is important. Set aside money in this budget for each promotion you do. Start small, test, and then build to success. This way you will always remain solvent and have enough for promotions.

Giving up too soon

Businesses are failing at an alarming rate these days. One reason is that owners give up too soon. Just as success could be around the corner, they give up and decide to close the deal. Jason Baynes, who owns a foundation repair company in Rochester, NY nearly fell prey to giving up on his business. But he stuck with it, changed the way he promoted his business, and now is successful year in and year out.

Marketing campaigns can also fail. You must give your promotions at least a few months before withdrawing them. Some promotions take longer to show results than others. As always, try all marketing tactics before launching a major promotion. Patience is one of the hallmarks of business and it must be put into practice.

Bad sales copy

How many times have you wanted a product but had serious doubts when reading the sales page? Bad and unprofessional ad copy will cost you revenue. In fact, without good sales copy, you can’t sell effectively. Getting it right is important to your business and can be your most powerful promotional tool. If necessary, have an experienced copywriter do it. The investment is worth it as you get a return on the sale.

Not hiring the right employees

To handle the added stress of busy times, you’ll need to hire new employees. It is very important that you do not rush. There is no shortage of job applicants, but you need to choose them carefully before hiring. A rude customer service representative can cost you customers. Don’t take that risk. You want to maintain the integrity of your company at all times, and employee selection is the way to do this. You can then build a loyal professional base that will be an asset to the company.

By avoiding these mishaps you will take your company to a new level of success that it deserves. You will achieve year round success and be able to cash in. Make sure to plan ahead and be careful not to make these damaging mistakes.

5 First Steps To Starting A Business

As a freelance business consultant, many folks come to us with a business idea and want our assistance writing a formal business plan.

Despite what many aspiring entrepreneurs believe, putting together a business plan is not the first or most important step in starting a successful business. For most people, especially those with little to no experience running a business, this is actually one of the last things you want to do in start-up.

This article is designed for the brave individuals who have never started a business, have a strong desire to do so, but do not know where to begin. Here are 5 practices, learned from our vast experience, to help you avoid common pitfalls and get off to a great start. (Bear in mind, these are for companies that need little to no startup funds.

1. Dream

Take time to create your business “spiritually” before building it physically. See it in its best and perfect condition, as a super successful world-class operation. How does it feel, look, taste, sound, and smell?

Entrepreneurship is one of the most difficult things you will ever do, and your business needs to constantly invigorate and excite you. Otherwise, it will never last through tough times.

Write your dreams down. Not a business plan, but written dreams, plans, goals, and brainstorming. The official business plan will come later in the process.

2. Read

Dreams cannot go far without knowledge. Read these four books in order: Cash Flow Quadrant by Robert Kiyosaki, The Art of the Start by Guy Kawasaki, Burn Your Business Plan by David Gumpert, and The E-Myth Revisited by Michael Gerber.

3. Research

Before spending time and money on your dream, research to determine if your idea is viable and sustainable.

You will want to ask and answer a lot of questions, like these: Will the market support your idea? What evidence do you have to support this? What pain does your idea solve? Who else is doing it and what has been successful? What will you do differently? Do you have an easily identifiable market? Do market trends back the idea or will the idea become obsolete in a 2-3 years? Do you need financing? If so, how much and when? What technology can be used in the business? What skills are you lacking for the business?

Also remember that practical experience can be the most useful piece of research. You may want to start your business small and be guided by what the market is telling you.

4. Form an entity and ensure legal compliance

Assuming you are confident your idea will work, you are ready bring it to life and form a business entity. You need an entity for four reasons: to be legal, to maximize tax savings, to reduce liability, and to stay in control.

Your basic business entity choices include LLC, Sole Proprietorship, S-Corporation, and C-Corporation. Meet up with an attorney and CPA to discuss the differences between them and choose the appropriate entity for your uses. It will cost approximately $125 if you do the paperwork on your own, or between $200 and $500 if you hire a professional for help.

You must also make certain that you comply with the law in all other areas. For instance, if you have employees, you likely need workers’ compensation insurance. A good lawyer will help you navigate through any legal problems you may face.

5. Generate income

This step is obviously critical. Too many new business owners try to do too many things at once and are worried with things like image that they spend tons of money, time, and effort on logo and branding work, brochure marketing, advertising, and so forth. Make money first.

Do whatever necessary to generate income, even if it means selling from house. No dream, however inspiring, will come true unless you can pay to make it happen.