Launching an online business can seem like an easy process. You make a few keystrokes and bang, your website is live. But, while it’s true that the basics of setting up a website and getting online marketing advice from people like me are very affordable, the world of digital marketing is constantly evolving and evolving fast. You need to make sure that you’re keeping up with the times if you want to grow your business.
Hiring A Contractor Or An Employee?
One of the first things you need to do if you want to grow your business is to determine if you want to hire a full-time staff or contract with an outsourcing company. There are pros and cons to both options. Let’s take a look at each one.
- With a contractor, you’re essentially outsourcing the work of marketing and sales to someone else. While this may seem like an easy way to get the work done, there are certain drawbacks to contracting out work. For example, if you’ve ever heard of the expression, “time is money”, it’s definitely true in the world of digital marketing. When you outsource the work, you’re essentially paying for the time that it takes your employees to do the work. In this world, time is money. So, if you want to be profitable, you need to be smart about how you use your time. Additionally, with a contractor, you’re also opening yourself up to potential legal issues. The old saying, “you’re only as good as your word” holds true in digital marketing. When you contract out work, you’re essentially trusting that the person you’ve hired will do the work according to your instructions. So, in some cases, you’re putting your business reputation on the line.
- Fully staffed or part-time employees can be a great way to grow your business. The pros of having employees include gaining more flexibility, having qualified personnel, and reducing your costs. If you’ve ever tried to run a business without any employees, you know how difficult it can be. There are also cons to having employees which include increased costs, potentially higher turnover, and complicated tax issues. Depending on how many people you want to hire and how much you want to pay them, there are pros and cons to both options.
- For all the reasons listed above, I would recommend that you consider outsourcing the work of online marketing and sales.
Not Having A Plan B
When you’re in the middle of setting up your online business, it’s easy to be tempted to jump into the process and start blogging or setting up a crowdfunding campaign. But, if you want to be able to grow your business, you need to consider what you’ll do if things don’t work out. Will you be able to pay your employees? Will you be able to maintain your lifestyle? These are just some of the questions you need to ask yourself if you’re planning on growing your business using these channels. These are no one-time-event questions. These are questions you need to ask yourself repeatedly if you want to be able to grow your business successfully. If you don’t have a plan, B, you’ll either have to stop what you’re doing and start over, or you’ll be breaking even.
Hopefully, you won’t have to go through either one of these options. But, if you do, you’ll want to be prepared. Consider all the variables, both good and bad, that can influence the success of your business. Then, you’ll be able to craft a plan to take your business to the next level.