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The Three Biggest Risks To Your Business If You Don’t Have Marketing Goals

If you aren’t aware that your small business needs goals to thrive, then you definitely should open your mind and read on. Your local business might manage to survive without goals because sometimes you can do just enough to get by. If, however, you want more than survival you should develop a set of marketing goals and put a plan in place to reach them.

A business without goals will base decisions on emotion, gut feelings, or other criteria that may get them off track. Businesses are faced with situations that require decisions almost daily. If there are no goals to consider when making these decisions, a business owner may make bad – or at least ill advised – decisions that put the health of their company at risk.

The first risk to consider is money, sometimes referred to as cash flow. Most local small businesses don’t have tons of cash laying around that can be wasted on marketing ventures that don’t deliver results. For example, if you as the business owner get a call from a salesman with a limited time offer for a discount to place an ad in a flyer, it may seem like the right thing to do to “save money” on the ad. If advertising in that publication wasn’t part of your goal attainment plan, you could be wasting money.

If you thought through your marketing goals completely, you would either have this in your plan or not. If not, then before deciding to proceed, you should do the appropriate research. Will the publication give my business the right kind of exposure and the right amount? Can my budget handle this expense? What has to come out of the budget if this goes in? Am I being pressured to do this? Why didn’t I include this in my initial plan?

The second risk to consider is time. The effort it takes to market a local business can be a very heavy burden. If you’re one person trying to handle this monumental task alone, there’s only so many hours in a day. If you over-extend yourself on marketing, something else will have to be sacrificed to make time for it. This should be a major part of your goal setting process because managing all parts of your business is important. Missing something important can cost money, customers, or good employees. Any of these losses can be fatal in the right circumstances.

The third big risk to your business if you don’t have marketing goals is that you just won’t know what to do about marketing. This may not seem like a big deal, but this is probably the biggest deal of all because this will cost you money and time. When you don’t know what to do, you’ll often try everything that comes across your radar. You’ll be in a rush to do something, anything and make costly bad decisions.

Taking the time to be proactive in developing goals will save you valuable time in the long run and also take away the uncertainty as you progress through the year. Stating goals up front and planning for the expenses will save you money because you won’t be tempted by things that don’t really make sense for your business in the long run.

Marketing goal setting is a valuable activity that every business owner should put a high priority on. Your business can be at risk if you don’t take your marketing goals seriously.

They Called Me a Maniac When I Started a Home Business

Let me tell you what the public perception of a home based business can be. A home business to the narrow-minded masses tends to be something like this…

Aunt Edna is still working from home. She is selling those vitamins. I wish she would stop harassing me. Everyone knows she makes like $50 a month tops. If she didn’t have so many nephews that loved her cakes, cookies, and Christmas presents she wouldn’t make that much. I just don’t want to disappoint her. Home business is stupid. No one makes any money. Home businesses are for dreamers and retired people with too much time on their hands.

That used to be my perception of the home business movement. But motivation comes from strange places my friend, and my place was that of utter desperation. I was going no where in record time and decided to take the plunge.

In 1995 I started my own home business with $157 and in 2005 it did 2.4 million dollars in sales. Not bad for a “home business” hey?

I guess the question you have to answer is this… If you don’t start a home business then what are you going to do? The idea of working from home is time freedom and financial freedom. It is an investment in yourself and your family. Home is a beautiful place to be, and working from home is a blessing far greater than most any blessing I’ve known.

I don’t care what kind of home business you dream of. But you must be motivated to do something. In my case I became an amateur motivational writer and speaker and most of my money came from the dirtiest 3 letter word on the planet… MLM. Ugh. Oh the gnashing of teeth! You don’t have to hide, I am out of network marketing and MLM for now and possibly forever. I made a ton of money but I am all about pursuing my passions now instead of dollar signs. My passion is to help inspire people, and potentially guide them in the direction of their own home business. Why wouldn’t I want that? It changed my life.

If you aren’t a high profile attorney, prolific brain surgeon, or Fortune 500 Exec then maybe looking at working from home is something you should consider. Your own business is one of the few ways that you can make the same kind of money as Doctors, Lawyers, and Wall Street Guys.

When I started my business, my Mom and Dad told me to get a real job. Especially Dad who always told me things like, “You’d be better off looking for a good factory job and forgetting about this business nonsense.” God rest his soul, he was so proud of me when I finally made it. My home business grew into a storefront and he’d visit my office at least 3 times a week just to shoot the breeze with his kid.

The perception is that people don’t succeed with small home business startups. Work from home businesses tend to fail. That is what people think.

I am living proof that they don’t always fail. The key to succeeding is simply belief, determination, and using the nay-sayers as extra motivation. Ev ery time they would rain on my parade it would just make my inner fire burn hotter. You have to get to that point to succeed. Turn your passion into a brand new life and look at working from home today. You can start part time like most of us do, keep your day job, and just build slowly. It took me almost ten years to hit 7 figures in sales but I did it. Of course when I started I was on government assistance. I’ll tell you that story some other day.

Home based business is for real. Sure there are scams and heartbreaks along the way. But when you make it, and you will, I will be the first person to want to shake your hand and say, “I’m proud of you. You showed resolve and you did it.” That day is your destiny if you want it bad enough. Go for it.