4 Things We’ve Learned in 4 Years in Business

4 Things We’ve Learned in 4 Years in Business!

If there’s one thing that’s universally true about owning a business, it’s that it will most definitely teach you some things. Life as an entrepreneur can be a rollercoaster for sure, but it can also be so incredibly rewarding, and at Mango Marketing Co., we couldn’t be more grateful for the last 4 years. As we celebrate Mango’s 4th year in business this month, we wanted to pass along 4 things we’ve learned that we think might help others in business as well.

1: Events will have 30-50% attendance rates compared to RSVP rates

When it comes time for your events, go hard on your marketing and invites. When it comes to events, instead of “if they wanted to, they would,” it’s more like “they want to, and they say they will, but half of them still won’t.” Sometimes it’s unavoidable circumstances, sometimes it’s poor time management, sometimes people just don’t keep their commitments. Whatever the reason, don’t make the mistake of thinking a full list of attendees means everyone will show. Over invite, make contingency plans for a fluctuating guest list, and give the people who do show a great time. 

2 Risk-taking is hard for employees, but it leads to low turnover

For most of us, our business is our baby. It can be hard to give employees the space to be creative and take calculated risks, but the numbers show that it usually pays off. When you hire people you know you can trust and have open communication with them, giving them the space to be the expert in what you hired them for can lead to better outcomes and improved employee retention. No one likes to be micromanaged anyway!

3 People don’t read - Say it again and in multiple places

If you remember anything we say here, remember this. Over post, over share, and over market. Because honestly, you still won’t be overdoing it. People skim, they don’t read. If there’s something important you need to get across, say it in 5 different ways and in 10 different places. Put it on your site, in your emails, on social, in a blog, on a flyer, in a text, on LinkedIn, you get the drift. There is so much digital noise to cut through, so if you’re going to put in the effort, go ahead and do it in a way that makes sure you get your message across. 

4 Don’t be afraid of taking out a loan if you strategically know what you want it for 

They say it takes money to make money for a reason. Getting a business loan can be incredible for your business when used strategically for the right reasons. Have a plan for the money and a plan to pay it back. Bonus points if you’re able to reduce your interest costs by paying it back early. 

There are literally a hundred other lessons we could have thrown in here, but these lessons have given us insight as we grow. We think they will give it to you, too! Thank you for being with us on this journey.