Running a marketing business can be a lot of fun. Not only is your work incredibly creative and interesting, you generally get to work with clients that you love and on campaigns that really push your abilities (and turn out pretty awesome too). But at the end of the day, you’re a business and you have some serious matters to attend to, just like any other company in the world. There are investments you need to make, and risks you tend to take. But, as a marketing company, you need to make sure that those risks aren’t so risky after all. Because you know all about the power of spin, but not every problem can be saved with a promotional message. So instead, you’re going to want to keep your business interests safe.
Think Before You Speak
First of all, you’re going to want to make sure that you starting thinking carefully about how you push boundaries. As marketers, it’s natural to want to push things sometimes, especially if it’s something that works well for your client. But for your own business, think twice about it. Even if you’re brand positioning is all about taking risks, and being brazen, there are some things you can’t come back from. And damaging your reputation to the point of despair is one of them. So think before you speak – especially in your own campaigns!
Walk First, Run Later
On the odd occasion, trying to run before you can walk can work out well. Some businesspeople land on their feet after making early mistakes in their career, but much more fall down. Flat on their faces. And never get back up. But don’t let yourself become one of them. Walk first. Don’t get in over your head with your finances, your clients, or any other area of your business. Make sure you can handle anything that you take on, and you should stay afloat.
Protect Your Interests
It’s also at this point that you need to think about how you’re actually protecting your own business interests. Because you never know when you might come under attack. Consider the cost of general liability insurance for a small business and weigh it up against being sued. You may think that you’re not going to get in any trouble now, but it’s always better to be safe than sorry!
Read The Fine Print
And always remember to read the fine print. Even though this should be ingrained in your business brain by now, it’s easy to let things slip. Just make sure that it doesn’t. Because you never want to take a deal that could put your business in danger.
Finally, you’re always going to want to think about keeping yourself afloat when it comes to cash. It’s easy to make money mistakes. But once you’ve made your first, make it your last. Keep your money in the business, don’t overspend. You need to be thinking ahead, and if you want a successful future, you should always stay flush.