You may be the expert only in your field of interest but that is not enough to be a successful entrepreneur. You have to be an expert in marketing regardless of the type of business you own.
There are many CEOs whose knowledge is limited only to their field of expertise. Sadly, they think it is enough and this is why they end up making blunders when it comes to marketing. Without marketing you simply can’t expect your business to move forward. In other words, marketing is an integral part of business and it is quite expensive and time consuming as well. Making mistakes in something so crucial can actually lead to loss of finances and to embarrassment as well.
Listed below are some common mistakes that CEOs make. Learn of them and avoid them.
Thinking That Your Competitors Are Your Enemies
Rule number one to business for SMEs is that they should never directly look at established firms as their competitors. They should instead look at them as business sources. You can use them to get started! This is because established firms usually don’t care about smaller orders or prospects, which is why they won’t mind directing those to you. You will have your break and they will know that you are a part of their industry. Purpose served!
Thinking Too Much Of Yourself
Every startup founder thinks that his startup is the best and deserves to be recognized by one and all right from the word go. Things don’t work like that in business. Your job when you get started is publicity. You shouldn’t shift your focus from that. You may make the headlines some day in the future but if you start dreaming of it from the beginning itself or if you simply think too much of yourself you won’t get things done.
Just keep working hard and good things will happen eventually.
Behaving Badly With The Media
Entrepreneurs want to be in the good books of media but barely any of them actually make the effort. They care too much about customers and prospects and tend to neglect the fact that even the media is just as important. The reason is simple: media is the medium for marketing and publicity. At no point should you do anything to jeopardize your relationship with the media. It could cost you a lot.
While multitasking is a trait that every entrepreneur must possess it is not something that you should do in the marketing world. Your marketing scheme must be clear, concise, and very consistent. You should stick to your marketing story and not get carried away by every thing that seems attractive to you.
Focus and practicality are what you should possess an entrepreneur to avoid marketing mistakes.
Leaders generally find it easy to get carried away by the hype that they create for themselves and by the various distractions. To be able to market successfully you should have your focus on marketing and the media and nothing other than that.