The Path of Emotions for 1st Time Marketing Investors 🔥

I drew this graphic years ago and found a picture of it on my computer the other day. This morning I decided to write and tell you why, as a business owner, it may help you.

The crazy part is that I've worked with so many small business that were just getting started investing in marketing and advertising that I felt compelled to illustrate to clients how they would inevitably feel about the process. If you are a small business owner and your profit is what you make, it's your lifestyle business - where you eat what you kill, then every single dollar matters. I mention this because most marketing directors at big companies don't have this roller coaster of feelings. Because it's not "their" money. I digress.

When business owners take that leap and dedicate dollars every month to a line item that says "Marketing" on their P&L, now (hopefully) knowing it has intent and it's a good decision and it's the right thing to do to grow the company; there is always initial hesitation. They feel the pain of the money leaving their account for services / products that they've never invested in before. The gain level is very low. This is what I call the trial period. Contracts don't matter during this period, it's all about feelings.

If you have started a business, hired people and then been responsible for their paycheck, you and only you, know the real importance of cashflow in business. When a small business owner makes a decision to invest in an ongoing campaign or needs monthly services, it feels different than deciding to invest those same dollars into a human. You can see the human every single day. You can talk to the human about it's day, what you're hearing in the market - you can measure their productivity. We all want returns on our investments. 

This is the moment the business owner starts understanding the game of chess... 

As a business owner, you will want a lot of initial communication. I've worked really hard over the years to spend much more time talking about expectations. When people know what they're buying and what they should get for it, the process is much easier than setting crazy expectations to secure the contract and then drop the ball. That story is always short lived. If communicated to correctly and measurements align with previously set expectations, then I usually see the light bulb moment. This is the moment the business owner starts understanding the game of chess that is search engine optimization or the story telling of social media or the strategy behind reviewing Google Analytics - they start understanding more. Now, we enter the comfort zone.

The comfort zone in business can be tricky. As business owners, we always want to know if we can do it better, can we save here or give that human a raise (but also give them more responsibility), a lot of thoughts are happening during this time. As a business owner it's important to continuously challenge your marketing team for new metrics and new creative ideas to achieve this goal or that goal. I find that, all to often, small business owners get too eager to "save a dollar" rather than partnering with a team that can help them achieve their large goals. 

A true business owner / agency relationship should repeat this graphic over and over throughout their engagement. If not, I would question if anyone is actually challenging anyone. Sure the levels of trust and longevity within a partnership help but to move forward, we should remember this is business and it has no feelings. 

So, if you own a business, make good money and just signed the largest marketing commitment you've ever signed, don't worry - your panic attacks are merited, they will subside and you should start feeling better shortly.

The Path of Emotions for 1st Time Marketing Investors 🔥

I drew this graphic years ago and found a picture of it on my computer the other day. This morning I decided to write and tell you why, as a business owner, it may help you.

The crazy part is that I've worked with so many small business that were just getting started investing in marketing and advertising that I felt compelled to illustrate to clients how they would inevitably feel about the process. If you are a small business owner and your profit is what you make, it's your lifestyle business - where you eat what you kill, then every single dollar matters. I mention this because most marketing directors at big companies don't have this roller coaster of feelings. Because it's not "their" money. I digress.

When business owners take that leap and dedicate dollars every month to a line item that says "Marketing" on their P&L, now (hopefully) knowing it has intent and it's a good decision and it's the right thing to do to grow the company; there is always initial hesitation. They feel the pain of the money leaving their account for services / products that they've never invested in before. The gain level is very low. This is what I call the trial period. Contracts don't matter during this period, it's all about feelings.

If you have started a business, hired people and then been responsible for their paycheck, you and only you, know the real importance of cashflow in business. When a small business owner makes a decision to invest in an ongoing campaign or needs monthly services, it feels different than deciding to invest those same dollars into a human. You can see the human every single day. You can talk to the human about it's day, what you're hearing in the market - you can measure their productivity. We all want returns on our investments. 

This is the moment the business owner starts understanding the game of chess... 

As a business owner, you will want a lot of initial communication. I've worked really hard over the years to spend much more time talking about expectations. When people know what they're buying and what they should get for it, the process is much easier than setting crazy expectations to secure the contract and then drop the ball. That story is always short lived. If communicated to correctly and measurements align with previously set expectations, then I usually see the light bulb moment. This is the moment the business owner starts understanding the game of chess that is search engine optimization or the story telling of social media or the strategy behind reviewing Google Analytics - they start understanding more. Now, we enter the comfort zone.

The comfort zone in business can be tricky. As business owners, we always want to know if we can do it better, can we save here or give that human a raise (but also give them more responsibility), a lot of thoughts are happening during this time. As a business owner it's important to continuously challenge your marketing team for new metrics and new creative ideas to achieve this goal or that goal. I find that, all to often, small business owners get too eager to "save a dollar" rather than partnering with a team that can help them achieve their large goals. 

A true business owner / agency relationship should repeat this graphic over and over throughout their engagement. If not, I would question if anyone is actually challenging anyone. Sure the levels of trust and longevity within a partnership help but to move forward, we should remember this is business and it has no feelings. 

So, if you own a business, make good money and just signed the largest marketing commitment you've ever signed, don't worry - your panic attacks are merited, they will subside and you should start feeling better shortly.