As an entrepreneur, I've come to realize that failures are part of the journey, and more often than not, they are more frequent than success 😮💨. Looking back at my entrepreneurial journey, I can't help but reflect on a particular project that taught me some valuable lessons.
I once had the opportunity to help a company in the stock market industry. Their product, in terms of features, was behind their competition. I wasn't passionate about it, but they had a sizable budget. My partner at the time decided to take on the project but later retired to take some personal time off. I had to take over the project with no prior onboarding 🤦🏻♀️.
In my inexperience, I made a critical mistake by accidentally switching off the tracking feature for their Facebook ad campaign 🎯. As a result, we spent the money without any insights and analytics. It was a costly mistake, but it taught me some valuable lessons that have stayed with me ever since 👇🏽
💥 Scaling blindly by throwing money at a problem is not a solution; it's an expense. I should have been upfront with their company about how, in their case, Facebook Ads were a short-term solution for a bigger problem.
💥 Analytics are essential in every marketing strategy. Thus it is crucial to track the impact of your investments to improve and reevaluate your strategy constantly. So always track it!
💥 Proper onboarding and knowledge of stakeholders are crucial when taking on any project.
💥 Please don't take on any project that you can't give 100%, and most importantly, never take on a project whose mission doesn't align with yours.
Looking back, this was one of the most significant mistakes as a marketer, but it's also had a big impact on shaping me as a professional 💼.
What's the biggest mistake you've made professionally?