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Pay Per Click Business Management Lessons I Learned.

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Pay Per Click Business Management Lessons I Learned.  

 

Happy Monday night or early Tuesday morning Y’all.  Here’s a write up of everything I learned from owning a PPC agency for a year and a half.  I’ve divided it into 2 categories : Starting Out and Expanding. 

 

When you start out there are a few things you should consider. The key is: it is not what you make, it is what you keep.  Here are a few questions you should ask before you dive in.  

 

Are you self sufficient?  

What is your level of risk tolerance?  

Are you a self-starter?  

Are you willing to work long hours?  

Are you disciplined?  

Can you keep to a schedule?  

If you have a significant other, is he or she supportive of your new venture?  

Do you have enough money saved to make it for several months?  

Do you have debt?  

Can you take out a line of credit?  

Do you have a business plan?  Do you have a road map and a goal? 

How are you going to get clients in the door?  

How much competition do you have in your space? 

Do you need employees? 

 

After some soul searching… you should pick an entity choice.  I could write an entire article on what entity is right for you, but if you have questions talk to a lawyer.  The issue is who will you work with?  If you choose to work with others, realize that friendships can be ruined.  You will have different work styles, goals and abilities. These difference lead to conflict.  Discuss your expectations openly with your partners and determine if you can work together. Put the partnership agreement in writing.  Plan for the end from the start.  

 

Where will you locate your marketing firm?  Some marketers work from home to keep overhead low.  This may work, but not for everyone.  Office sharing is common.  You may be a one person shop but you can benefit from being around other marketers at a startup facility.  Your clientele may expect you to have a nice office.  Where do you want to be located?  Downtown or in a cozy suburb?  It will depend on your target clientele.  

 

Finances are difficult when you first start up.  Get a tax ID for the business.  It takes a few minutes and is necessary.  Learn how to use accounting software.  I suggest using cloud based software.  Consider getting insurance.  Not necessary, but sometimes great to have.  

 

Now let’s discuss how to make it work and expanding. Most of us have the same problems, billing/collections, staff, and marketing when trying to expand.  

 

Billing and collections are important.  Not getting a check on time could be the end of the business.  You must make sure that you have good billing practices.  Proper billing will increase your cash flow and help avoid collections.  Line itemizing your services is a great start.  Vague descriptions can slow the billing process down on the client end.  When you run into problems, you should have a policy to handle the situation.  Determine who should call and what the tone should be.  Few marketers are in a position to sue a client for fees.  Be careful when you choose to work with certain clients.  It’s better to avoid a bad client then to try to collect money from them.

 

Choosing staff is important.  I’m not going to lie… recent college graduates need a lot of training to become productive.  Think long and hard about what type of people you want to work with.  I hire for competency and character.  It is easier to find character than competency and I lean towards that.  It is essential to have a team that demonstrates compassion, firmness when needed, and wiliness to learn.  Hire employees based on your needs.  Don’t need a photographer? Don’t hire him or her; freelance is always an option.  It is easier hiring employees than letting them go.  Be reasonable with time off and provide benefits your employees need.  

 

Marketing, I lump together with sales.  You need a website.  A prospective client will go to your website which will be the first point of contact.  Do to create a website only to neglect it.  Keep the content fresh and up to date.  We encourage our employees to volunteer in the community and take pictures.  Supporting involvement in local charities is a great way to earn goodwill.  You should also try some PPC.  Smiley Happy

 

 

I hope this midnight write up has been helpful.  Good luck and may your marketing agency prosper in 2017

 

Tony 

 

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