Regardless of the industry, aspiring entrepreneurs will undoubtedly face a number of challenges when trying to start a new business or career. Things like an unstable economy, personal financial struggles, and questionable market conditions all pose a real threat to launching a new successful career in general.
Individuals who are starting a new business venture must be able to determine what kind of risks are involved that pose the greatest threat to hindering their path to success as well as create plausible strategies to prevent them.
Launching a new career in a multifaceted field such as marketing can be a somewhat daunting task for anyone just getting started. Because marketing is such a fast paced industry, it can be hard to absorb all the tools and knowledge that are necessary to succeed.
In fact, many beginning marketers learn a great deal just by simply browsing social media and related blogs in order to gain a certain level of ‘street smarts’ about what they need to know.
Biggest Risks Of Starting A Career In Marketing
• Extremely Competitive Field
Marketing in general is a very competitive business by nature. The competition not only takes place with other companies and organizations, it happens among work colleagues as well. Therefore, if you’re not a born competitor, you may want to think twice about entering into a marketing career.
• Considerable Cost
The financial status of virtually any business can usually make or break an individual’s ability to be successful. Obviously, a lack of startup funding can threaten your whole objective. Sufficient funds are necessary in order to pay for living expenses and other necessities until your career starts to take off. Furthermore, many businesses require equipment, marketing materials, office supplies, and inventory to run both effectively and efficiently.
Many times, budding entrepreneurs who aren’t able to secure enough financing will often overextend their credit cards or tap into their personal savings in order to fund their new venture. Overall, the success of any new career is often directly tied to an individual’s personal financial success. Unfortunately, if the business fails, you could be facing serious financial difficulties as well.
• Fast Paced and High Stress
Because of the diversity of the many job responsibilities that are required of a marketer along with the fast paced beat of the job, marketing can get very stressful at times. In other words, a marketing career requires a great deal of dedication and persistence. You have to consistently maintain a high level of productivity in order to get ahead in the field.
Do You Have What it Takes to Succeed as a Marketer?
• Can you generate new ideas quickly? Can you take those same ideas, organize them, and communicate them clearly?
• Can you easily identify a problem and then develop a good plan of action to take in order to resolve it?
• Can you organize and understand complicated data?
If you have these qualities along with the drive to achieve your goals, then you’re likely a great candidate for entering the complex, but exciting world of marketing. Marketing offers a variety of career opportunities. Pick one that will reflect your personal style, values, and integrity.
Tips on How to Lower the Risks of Starting a Career in Marketing
1. Engage in networking
Surround yourself with talented, experienced individuals in the marketing field that you can learn from. These people are literally the unsung heroes behind your success.
2. Stay updated at all times
As a marketer, you’ll need to know all the latest industry news by diligently following highly influential people on various social media channels and major marketing sites online. Keep your eye on the major players including Google, Twitter, and Facebook for regular, updated tweaks regarding their algorithms and paid advertising platforms.
3. Learn the necessary terminology
Digital marketers must be very comfortable using acronyms like SEO, SEM, and PPC. Any misunderstanding of these important terms is a clear sign that you’re still a beginner and you need more training.
4. Build your own personal brand
It’s virtually impossible to be a successful, high-in-demand marketer without a visible presence online these days. If you want to prove to a potential employer that you have what it takes to build their visibility in order to enhance their brand, then you must first show them that you know how to create a solid personal brand for yourself.
Overall, if you’re someone who has a lot of energy that enjoys working alongside other like-minded people, likes challenges, and is willing to constantly improve your skills, then a career in marketing may be ideal for you.