Taking Smart Risks

I’m sure you’ve heard this before, but it’s something worth repeating… if you are in business there is going to be some kind of risk involved.

The idea is to manage the percentage of risk, so you are not playing Russian Roulette with your money or your company’s future.

To achieve that a clear strategy has got to be part of the mix, along with a healthy dash of defining objectives. Ask yourself these questions every time you go to jump at an "opportunity"…

• What is my objective (to raise brand awareness, promote a new service, use as a loss leader to up sell something else??)
• Is this the right venue for the demographic market(s) I want to reach?
• Is the timing right?
• Is the message clear, on point and motivational?

So many entrepreneurs hire me after wasting thousands of dollars and tons of time because they embraced the scattered "onesie" approach – trying a little of this, buying a bit of a "sure thing" (which usually is an ad or direct mail package that is price driven and touted by some unrelentingly pushy salesperson.)

The result: untold dollars down the drain, and little if no response. I know, because in my first entrepreneurial leap ( back in the late 80’s as a co-owner of a new retail store) I made many of those mistakes. It took some time but through lots of in-the-trenches reading, attending workshops, asking questions, observation, and testing, I developed a winning branding, messaging and sales system, which produced millions in new revenues!

So, save yourself from some major headaches and do your homework before you embark on any more marketing misadventures. And if this is not your gig, work with a team who can keep you on point and give you sensible direction. They include professional marketing consultants, graphic designers, webmasters and copywriters – these are the folks that other successful entrepreneurs engage because they can assess the landscape, make strong recommendations and produce winning campaigns.

While you still may be entering uncharted territory, this way you’ve got a parachute on before you jump.