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Digital Marketing – Risk It for the Biscuit

Risk Management Analysis

Money Making from Business – So, you dive into becoming a business owner, and you put it all on the line. Lose the stability of a steady paycheck, say goodbye to health insurance, and maybe even lose the good old retirement plan. In order to become a successful entrepreneur, you have been told a million times “no risk, no reward”. Risking it to become successful is your dream and that is why you have decided to take these risks. I just have one question to ask…

Why in the hell are you so scared to invest money in marketing?

It just leaves me more and more baffled when I meet a business owner who is talking about the hardships, they are facing in whatever industry they are in. I know I might seem bias due to the fact that I work for one of the largest digital marketing companies, BizeeBay, in Austin. But this has given me the opportunity to analyze so many different businesses and the shortcoming and uprisings. Seeing businesses fall for the same reasons repeatedly has made me immune to making these same mistakes.

The 3 most common mistakes a “scared” entrepreneur makes:

I will start marketing when we start making money.

Which one came first… The chicken or the egg? You want more customers, but you can’t get them. You want to market, but you need more capital. Just stop being so scared and make the dive into getting everything you want in your business career. Do your research, find a great company to help you through the journey, and just do it!!!

I don’t want to put more money into this business.

I completely understand not putting money into a business without a game plan. Financial models in combination with your knowledge of the industry you are in is necessary to making decisions that should put your mind at ease. Realizing that you need to spend money to make money is beside the point. You need to find the path that leads you to making investing more into your company a lot more comfortable.

I’m scared to hire employees.

Many times, business owners will not say it just like this, but they will imply it in different ways. They are scared that the employees might steal from them or that they won’t be able to keep up with payroll. These business insecurities and one of the reasons businesses don’t grow. You need to hire employees to help you build your business. Being an entrepreneur is not a one-man team. It is an army, and you can’t be scared to take that dive.

You don’t have to risk it for the biscuit as long as your risk is calculated. Making sure that every move is well thought out, but at the same time not missing an opportunity is the recipe toward success! Now stop what you are doing is risk it for the calculated biscuit…

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