Are You Setting Your Small Business Up To Fail?

 

Jerry McCoy Business Success CoachSetting up a small business or home based business requires the same planning for success as a large business. Are you skipping steps that are vital for business success?

Business Plan

Your business plan states your goals for the short term, mid-term and long term. As I’ve stated before, this roadmap is as vital as why you are starting your own business in the first place.

Daily Action Plan

Your daily action plan is creating a to do list every day then completing those tasks in an organized fashion to so stay on track towards each of your goals. Some tasks are easier to complete and are more enjoyable than others. Many successful business people take on the big tasks first and allocate a predefined time to the task before taking a break or switching to an easier to complete task.

By segmenting a big task, you are breaking it into bite sized pieces you can handle while still moving forward.

Business Budget

A business budget includes fixed expenses as well as miscellaneous expenses and a marketing budget. Too many small and home based businesses try taking the do-it-yourself approach to marketing instead of hiring a consultant and building marketing into a budget.

These short sighted business owners view consultants and the services they recommend as expenses instead of seeing them as the tools they are that will help you increase your business.

You may be an expert in your business but are you also an expert in marketing your business both online and offline?

Do you know that traditional advertising methods such as: Newspaper ads, Television ads, Radio ads, Magazine ads, Flyers and Direct mail pieces are less effective than they once were?

Knowing who your target market is, what they want and where they can be found has always been important to the success of any marketing campaign and the business itself and this knowledge is even more important today.

Many small business owners ignore…

Today, the majority of your customers carry cellphones, use social media on a regular basis and use the Internet to research products and services before they shop offline. These people frequently search the Internet and company websites for coupons while shopping for coupons or specials after they get recommendations from their social media friends and check out a few review sites.

You need a mobile friendly website, a presence on the popular social media sites where you actually engage your customers, a verified and optimized Google Places page and citations on many business directories.

Do you have the time and skill needed to create and present a professional presence online while running your business?

Many business owners know they don’t have the expertise they need but they try to take the least expensive road by hiring a family member, college student, friend or someone else that might know just a little bit more in one of the areas mentioned above.

The problem with this approach is there is no marketing strategy in place that lets you put all the pieces in play in a way that will be most effective for your business.

Your goal is to get the phone ringing and new customers walking in the door. You need to know how you are going to accomplish this on the marketing budget you have at your disposal and you need a way to measure the results from the strategies you’ve put into play.

Google Places, mobile versions of your website, social media and more are all important but knowing which ones will yield the highest return on investment in the shortest time frame is important to the business success you seek.

A DIY business owner, in most cases, won’t have the time or skill to effectively run their business and to develop and implement a successful marketing strategy. Do you want to risk your business by being a DIYer or do you want to call 813-618-1816 or 888-612-9122 to talk to a consultant that will be able to help you develop and implement a marketing strategy and plan so you can concentrate on running your growing business.

Are You Setting Your Small Business Up To Fail?

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