The voice of experience - lessons learnt

Building a business can be fraught with challenges - but with every challenge and success, comes a lesson learnt. I've pulled together my top 10 learnings in hope that they may help others with their businesses.

About the Author

Kara Stanford FCIM Marketer is the CEO & Founder of The Marketing Spaces. 20 years ago she became a freelance marketer, 11 years ago she established KMS Marketing and in 2021 she launched, 'The Marketing Spaces'. She merged her successful strategic marketing consultancy business, KMS Marketing, with The Marketing Spaces in 2023.

1. Invest in your brand

I've never regretted choosing to pay a Graphic Designer to work with me to create the logo and visual brand for my business. It's true that the brand has evolved over time - but the logo has stayed the same because it is a solid logo that works now and will always work. Find a Graphic Designer you trust and invest in them to give your business a clear, visual brand from the start.

2. Accept that your website will evolve

When you're getting your businesses started, it's normal to focus on setting up a website as a priority, so you have a solid presence online to build from. However, over time you'll find more things you want to add to your website e.g. new services, testimonials, blogs, team pages etc. Your original website may no longer fit your needs, so be prepared to update your website every few years, so that it represents your business in the best possible way at that time.

3. Your products and services will evolve over time

As you learn more about what the market wants, and what you want to offer, you will and should adapt and change your product offering. I no longer offer today services which were core to my first offering.

Read my Marketing Insights Article, 'Are you selling the right things' for more on this!

4. You'll kiss a lot of frogs!

From networking groups that weren't right for me to certain types of people or businesses that aren't a good fit for what I deliver and how I deliver it, I kissed a lot of frogs that never became business princes. But that's fine! With each frog I got a step closer to understanding the ideal client and the ideal way to find them.

5. You'll want to give up - repeatedly!

Setting up a business is hard. Running a business is hard. Making expensive mistakes is hard.

Early on, I did a piece of work badly because I misunderstood the brief. I gave the client a full refund - then I cried because I really needed that money and was terrified they'd never work with me again!

Thankfully, they carried on working with me for another 12 months so my fears were unfounded. This was just one point where I wanted to give up - there have been many more!

6. Building a network is vital

One of my clients, Joanna Gaudoin of Inside Out Image always says that you can't build a network when you need one. And she's right!

It took me 12 months to build a network from scratch when I started KMS Marketing, as the launch of my business coincided with living in a new part of the UK, where I was totally unknown.?

When I launched, The Marketing Spaces in October 2021 the difference was profound. After 9 years of being part of Fabulous Networking , the relationships I made there were essential to the successful launch of The Marketing Spaces - very different to my lonely entry before.

7. You'll get your business model wrong

This is the second business model for The Marketing Spaces and with KMS Marketing I tried three before I hit on the right one.

The first one was a nightmare?- the usual dreaded combination of high turnover, low profit, hideous hours, a very tricky client and being let down by suppliers. The second model was high turnover, high profit but hideous hours. The third model was lower turnover, higher profits, and brilliant hours. It worked!

But look - it only took me two goes to find the right model for The Marketing Spaces! I've learnt!

Be prepared to spend time finding the model that works best for your business.

8. You'll realise how much marketing 'thinking' is needed

Many businesses frantically do a lot of marketing but what is really needed is more marketing thinking. When you think about your marketing and really understand the best way to reach and communicate with your audiences, you then realise how little marketing you need to do (compared to what you think you need to do). Spend more time thinking so your marketing 'doing' is focussed and effective.

9. Learn, learn, and learn

You must keep learning. Learn about your craft. Learn how to run a business. Learn random stuff. Learn for the joy of it. Learn from your mistakes. Learn from others mistakes. Learn from what pains you. Learn from what excites you. Just keep learning. Forever.

10. Take a break

You are THE MAIN ASSET in your business - you must look after yourself. This means having regular breaks.

I have a rule - I need a 48 hour weekend. Whether that happens over Friday and Saturday, or Saturday / Sunday, or Sunday / Monday, it doesn't matter. Just once a week, I need a clear 48 hours away from my desk.

When I don't do this my thinking becomes foggier, I spiral into marketing mess, and I get GRUMPY by Wednesday! And my business suffers.

Figure out what works for you - then do it.

Thanks for your time - and good luck as you grow your business. If you want me alongside you, then let's chat - we can make this happen.

Warm wishes,

Kara Stanford FCIM Marketer ,

Strategic Marketer

CEO & Founder, The Marketing Spaces