Some of the most common small business mishaps I see when speaking at Marketing Bootcamp events, is that business owners often do not prepare for the marketing needs of their business in terms of capital required, prospect reach, and accurate conversion ratio projections.
When companies underestimate the total cost of early marketing campaigns (especially the first 3 months), it is often difficult to secure financing or redirect capital from other business departments to make up for the shortfall.
Because marketing is a crucial aspect of any early-stage business, it is necessary for companies to ensure they have established realistic budgets for current and future marketing needs. Similarly, having realistic projections in terms of target audience reach and sales conversion ratios is critical to marketing campaign success.
It's important to take the time necessary to create and implement cost-effective, successful campaigns.