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Since starting out in the marketing industry in 2018, I have built a successful marketing agency that has grown to several six figures. The journey was not always easy and there were a lot of roadblocks along the way. Here are a few tips I picked up along the way.
1. Master lead generation
Finding a way to generate leads should be the number one priority of starting a small business. Even if your service isn’t perfect, getting real customer feedback is necessary to perfect your service. You need to find a consistent source of lead generation like email marketing and social media marketing. You need to know exactly how much outreach you are doing to generate business.
Related: Why Every Entrepreneur Should Start Their Own Marketing Agency
2. Keep track of your taxes
As a business owner, it is extremely important to save money for taxes. The last thing you want is for the IRS to knock on your door. It’s important to learn how to pay taxes quarterly and track every expense and income in a spreadsheet as soon as you get it. Many entrepreneurs struggle quarterly and at the end of the year to get their taxes properly. When I started my business I ignored all of my expenses and income for the first three quarters, so I had to spend three weeks reviewing my taxes at the end of the year to make sure everything was correct. . It was one of the most stressful times in my business.
3. Systematize everything
As a beginner as an entrepreneur I had to wear several hats. I had to be the accountant, customer support, fulfillment manager, and salesperson. It is extremely important to document everything you do in Google Sheets and Google Drive. Many entrepreneurs fall into the trap of creating another job. In the first year of my business I struggled because it was complete chaos. I would wake up at a random time, messaging people on Facebook, and hoping to generate business.
I really started to see the growth of my business when I started building systems around everything I do. I understood that if I send a certain number of emails, I get a certain number of appointments, which translates into a certain number of sales. I understood what to say to clients, how often to communicate and how to raise awareness with clients. It is especially important to note the tasks that you perform daily with repetition. Taking the time to build systems can be a lot of work, but ultimately it is necessary if you want to move from being a “freelance” to being a “CEO”. Over time, I was able to outsource a lot of the basic tasks with email automation, virtual assistants, and hiring a sales force.
Related: Why You Should Hire A Small Digital Marketing Agency
4. Create a brand
Another trap that many entrepreneurs fall prey to is that they fail to build a brand around them. They become obsessed with just acquiring another customer. As a result, many entrepreneurs are unable to sell their business and remain trapped there. You need to figure out what you want your business to represent and present it online on your social media platforms and build media coverage for yourself. If you don’t show who you are online, you will just become another commodity for your customers. Your branding helps you acquire new business and helps current customers stay with you longer. Plus, when you are looking to leave your business, it will help attract new investors.
Over time, I generated a lot of press and created a strong social media presence. This has allowed my business to grow at an exponential rate.
Related: 10 Secrets To Building A Successful Digital Marketing Agency