I thought I would take a break from our business advice series to show you this awesome thing that Weld County hired us to create – the Thriving Weld promo video! But this video was slightly more challenging than we’re used to…
We're continuing on to #7 of 10 of our list of some of the worst pieces of business advice that a handful of CEOs have ever received, as reported by fundera.com :
“The worst advice I’ve received as a business owner was when someone told me that to beat our big-name competitors we need to ‘go all in.’ From that advice, we decided to invest a lot of money each month in Google advertising to try and increase awareness for our business over our competitors.
After a few months of doing things based on that person’s advice, we were deep in the red and struggling. Instead of closing our doors, we took things in our own hands and pulled those ads. To our delight, we saw we brought in just as much traffic organically through other marketing efforts. From then on, we took other people’s advice with a grain of salt and go with our gut instinct!”
– Nellie Akalp, CEO of CorpNet.
There’s probably nothing worse, as a Colorado small business owner, than spending money on advertising that doesn’t work for you. Anything you spend on advertising SHOULD repay you AND make you more money – that’s the whole point. Unfortunately, what works for one company might not be right for another.
We’re back to talking about and laughing about some of these pieces of bad business advice that I found on fundera.com. Let’s dive in.
“When business is on the up-and-up, a lot of people will advise small business owners to go on a hiring spree. It’s better to advise not to over-hire, actually.