????A good portion of START-UP FOUNDERs doesn’t understand really what marketing is and can do for them
⚠️ They don’t know how to spend on marketing. They either are stingy or overspending
❌They leverage so much paid marketing and not interested to create an audience around their business offerings and values
❌They don’t have any marketing strategy and branding in place, hence, no strategy for building a brand and community around their product and services
❌They follow the herd and end up in the valley of the wolves i.e. that of marketing agencies ready to suck you dry
❌They don’t understand the power of personal branding and spend ZERO on that
❌Founders give away so much leverage already to the venture capitalists who drive them off the cliff of “make it or break it”
What do I miss here? Educate me, please
For start-up one of the important aspects when it comes to business is, of course, marketing. But the crucial part is actually the management it serves as the roadmap to your success. Lack of understanding and without a marketing strategy could lead you nowhere.
How do you know that you are on the right track?
Always set the right budget and know your limit.
Do not overspend on marketing stuff that does not meet your business goals. But do not fall short on your budget too, just imagine running out of gas during your long ride, devastating right? We don’t want that to happen, of course, it pays well if you know your numbers.
Internet marketing advertising popping out like mushrooms everywhere and it is the trend. It’s tempting to dive into paid marketing to get high reach and engagements. But ask yourself,
Are you engaged to the right audience? Will this bring the right prospects that your business needs? The best way to grow is by building your audience that you know that needs your products/services.
Marketing strategy and branding are nothing if you are not with the right community. Building a community is essential if you want your brand to grow. Remember that one does not work if you miss the other one. The right community and the marketing strategy gives you better results than those paid marketing.
Do not fall on what’s the trend, though marketing agencies are on the rise, doesn’t mean you should get one right away. Know what your business needs first. If you should get one, check their credentials and see if they offer the best value. Some marketing agencies are like vampires, they will suck you dry and will leave you with nothing. Check their works and what they can deliver, at the end of the way we want what’s best works for our business.
As a start-up, you don’t need to spend hundreds of dollars on paid marketing that gives you no return. Do not underestimate the power of personal branding and marketing. It costs zero but will drive you to the right prospects and give a higher reach. And it helps you build your reputation and a better relationship with your community.
Don’t spend too much leverage on venture capitalists they won’t drive you far. In fact, they will push you to the cliff of make or break, and as a start-up company that’s a big no-no. Going on the road with directions will only lead to a dead end. Have a clear business plan, execute it with the right marketing actions, and take control of your success, that’s the only way to win it.