5 Common Mistakes Small Businesses Make

Small businesses have many challenges they need to overcome. Owning and operating a small business is not always easy. However, the rewards can be great if you avoid these common mistakes that other small businesses have made. There is no one best solution or path for all companies, but here are a few things that you can do to make the process less painful.

Lack of Technology

Small businesses need technology just as much as Fortune 500 companies or big box retailers. It can provide new opportunities for growth, save money, and make processes more efficient. However, without technological advancements, a company can struggle to grow and be as efficient as possible.

Downplaying the Need for Strong Marketing

Along with this desire for strong technology is the need for successful marketing tactics and campaigns. This can be accomplished by creating and maintaining a strong online presence via a website, social media platforms, and internet campaigns. Print advertising and word-of-mouth referrals are also great ways to market your company as well. Regardless of the type of marketing you choose, it is important to remember that you can’t assume that customers will just find you on their own. Having a strong marketing plan is paramount to your company’s success.

Not Reaching Your Ideal Client

In order to market your company successfully, you need to understand who your ideal client is, however. It is important to spend your marketing budget targeting your actual company’s demographic. It does not make sense to advertise to teens when it’s a product that elderly people will primarily use or vice versa. Once you have identified your ideal client, you can now choose how best to market to them.

Omitting the Planning Stage

Planning is key to every successful project or business deal. If you skip the planning stage, there are many minute details that might be left out. Instead, set aside time to budget and devise a financial plan, develop a business plan, and finally create a marketing plan with a brand guide and ideal client profile. The time set aside to do this planning will exponentially expound your company’s profits and customer base.

Trying to Do Everything Yourself

Identifying your ideal client, creating a plan, and marketing specifically to them can be a huge endeavor. For many small businesses, this is not something logistically they can handle by themselves. Do not try to do it all by yourself. Reach out to a marketing company for help. This frees up the small business owner to spend more time and energy growing the company in other ways.  

A marketing company can help you with this entire process from identifying your ideal client, creating a business and marketing plan, choosing the proper technology, and finally marketing to this ideal client in the best way that will actually reach them. VANTRUM is a full-service, consultative marketing company. We are able to assist you with all of these needs.  Our team would love to help you avoid these common pitfalls that many small businesses find themselves falling into. Even if you’ve already committed these mistakes, we can help steer you onto a more productive path for the future. Reach out to us. We would love to partner with you to grow your business.