A Big Mistake for Small Business
So you’ve taken the leap and started your own business. Congratulations, you’ve done what most will never do … taken a risk in pursuit of a dream! You already know that starting a new business is an extremely daunting task with a myriad of things to accomplish.
So what now? If you’re like the vast majority of businesses you’re going to need stuff and lots of it to help you get from concept to tangible results. From software to new employees, office space to that new phone system there is an enormous amount of potential equipment you could purchase to help get your business off the ground. Deciding what is absolutely necessary and needed NOW takes a bit of investigation.
While looking into this further remember there are many businesses trying to sell you on the idea that their product or service is an absolute requirement for success. While this may be true in some instances it’s more often not the case. Making an incorrect choice at this point only adds delay, frustration, and additional negative cash flow which can demoralize you and your team putting your entire operation at risk.
Also remember that the eventual goal is customer acquisition, a basic and obvious idea but forgotten nevertheless. An important question to ask yourself is, am I purchasing this product or service to help acquire a customer or retain a customer? And this leads us to the Big Mistake for Small Business. Most startups will put disproportionate emphasis on the retention side of the equation leaving out the most basic of business theorems … It pays to advertise! You don’t need Fortune 500 class infrastructure before acquiring customers.
The moral of the story … in the chaos of driving your dream to fruition don’t leave out one of the most important tenants of business success. Make sure you have a strong marketing team that can map out a plan for aggressive growth and deliver significant value to take your business to the next level.
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