How Flawed Marketing Mindset Could Slow Business Growth?
Marketing is essentially at the heart of overall business operations. Effective marketing effort could ensure additional sales. In its initial years, some small businesses actually spend more money on marketing effort than other business costs, including employee salary. However, many businesses have limited financial resources, but it is still not an excuse for having an effective marketing campaign. Marketing is an essential thing to have, regardless of our current budget. It is essential to ensure that our business can grow properly. Business battles are often won and lost in the marketing war. The competition can be intense enough that some business owners expend their remaining capital into marketing effort, by hoping that they will get results in the future.
Unless business owners want to stay small forever, it is important for them to find our about getting enough leverage. This can be achieved at relatively low cost and we will be able to obtain higher returns from our marketing investment. There are many simple concepts that we can use and to do that, we don’t really need to become a business guru. There are various marketing aspects that we can implement for our business, despite minimal budget. In fact, there are limitless creative ways to achieve great things for our company. We could learn from other small businesses in how to gain enough traction and start to become much larger. Business growth can be achieved relatively easily if we know how to do it. We may ask other more successful business owners on how to achieve specific things.
Flawed marketing performance could be caused by lack of human quality. This can be a challenge for many small businesses. The owner can be the sole expert in the entire company. In some cases, business owners could be reluctant to share their experience and knowledge for fearing of leaking their business secrets. There’s a big consequence of improper human quality. There’s a visible difference between companies with distributed knowledge and those with centralized knowledge. The business may stop to work properly if the business owner has problems with health or other things. This applies for marketers. It is important that marketers are able to achieve proper knowledge and experience.
Marketers should be passionate, skilled and talented people. If our marketing team is centralized on a single person, it is possible that our marketing campaign will become stagnated. A key employee could get sick or move to other companies. Our marketing effort is at significant risk, if it is centered on a single people. An employee may seem to be passionate, loyal, talented and skilled, but he may not stay in our company forever. Even if the person is incredibly loyal, debilitating sickness or old age could stop them from working. We should also know that retaining talented and skilled employees can be quite expensive. In some cases, the employee could get offers from other companies for higher positions at better salary. That’s why retaining an employee can be tricky.