This is a 3 part series where we try to address 3 extremely crucial topics.
1) “Whether your business is ready for an agency?”
So here goes,
It’s been proven time and again, to build an empire, you need successful partnerships. However, two questions that burn in minds of entrepreneurs are
1) What sort of partners am I looking for?
2) When exactly do I need them?
The more entrepreneurs I interact with, the more I realize the inherent apprehension to reach out and ask for help. They think they’re expected to solve every challenge they encounter, alone. Guilty!!! This couldn’t be further from the truth.
“As an entrepreneur, there’s nothing more expected from you but to execute well, ethically. How you do it is immaterial in the long run”
Reaching out to an expert for even a 5 minute call will not only help you look at the challenge from a different perspective, but gift you something more precious; head space to concentrate on the larger picture; executing your idea. That’s key.
One of the mistakes I committed with my startup was to assume, all I needed to do was recruit an in-house team or manage it in-house. A few questions I should’ve asked myself were
- Is this a long term or a short term need?
- Are these services a core or ancillary requirement to our business?
- Can the existing team do full justice to it?
- Do I need to spend time, money and effort on recruiting someone in-house?
- Can it be done by a third party?
As generic and basic you think these questions are, most entrepreneurs don’t think about the long term repercussions of recruiting a team initially. The downsides could be;
- You might change your strategy at a later point
- You could pivot your business on the whole
- You might run into cash flow problems
- The team might become redundant
“Firing a team can be more complicated than hiring one”
So if you’re considering recruiting or doing it yourself, think again.
Once you’ve taken the plunge, all you need to worry about until you’ve gained sufficient traction are
- Product/Service development
- Your Vision
Everything else should be left to the experts.
Next on the list is Marketing. Circling back to the beginning,
- Why should I engage with an agency?
- What type of agency do I need?
- When is the right time to engage with an agency?
Read the other two articles in the 3 part series here, “Types of Marketing Agencies, Why, When you need them” and “6 questions to ask before hiring a Marketing & Advertising Agency”
Would you share some of your experiences, good or bad. If you disagree with this article, I would love to know why and how it worked for you, what steps you followed.
By Mithun Chandra,
Business Head – Tatopo Digital
#marketing #advertising #agency #startupmarketing #startuptips #startupgrind #entrepreneurship #howtosucceed #brandingstrategy #positioning #socialmediastrategy #socialmedia #marketingstrategy