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Starting a new business comes with unique challenges, and those first years are essential to your long-term success and growth. If you’re starting a digital marketing agency, you will run into specific challenges and may make some of these common mistakes. Here’s what they are and how you can avoid them.
Mistake 1: Not setting the right expectations
Like in any other type of business, setting the right expectations for your clients is a must. Don’t overpromise, especially when you’re not sure if you’ll deliver those results. It’s better to let go of a lead with unrealistic expectations rather than closing the sale and having to deal with an upset client along the way. Be honest with yourself and with them.
Mistake 2: Going into debt
Don’t go into debt. Debt can often represent a problem for your business because of the unknowns of a new endeavor. In a moment of crisis or in the event that you need to downsize your expenses, having that fixed payment can take a toll on your business. Remaining debt-free as much as possible will be a huge asset for you as you start out.
Mistake 3: Not having a budget
Having a budget is essential for handling the ups