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In this ever competitive world, having a quality product is simply not enough. Part of being a smart business owner is knowing how to sell your product or service. This is why marketing plays such a vital role in the success of your business. Once you have defined your offer, it’s imperative to conduct through market research, identify your target audience, build your visual identity, and even create your own website.

1) SLOTH
As the saying goes, “if it ain’t broke, don’t fix it”. But the truth is, nothing lasts forever, right? You have to be aware of changes and anticipate them so that you can prepare your business. It’s far better to be proactive than reactive.

2) ENVY
Copying a competitor’s idea will only bring up problems. Pick two or three aspects of your business that make it unique and focus on those. Show how your brand sets you apart from competitors by emphasizing those points.

3) GREED
All your marketing material should be based around two main goals: build up brand awareness and increase sales. After some research, you should establish a strategy, and stick to it. In order to remain consistent and “on brand”, you should follow the guidelines you initially set out.

4) LUST
Established brands are always on the lookout for ways to widen their reach with methods such as guest blogging, features and partnerships. It won’t be long before your brand is recognized and will start being approached with multiple “incredible opportunities”. It is exactly in this moment that you should take the time to really think about this potential partnership. Will this advertising benefit your brand? Are your audiences compatible? Do your brands share the same type of values? These are the type of questions you should ask yourself before committing to a long term agreement. Beware of being seduced by flattery, make a rational and researched decision.

5) WRATH
Let’s send out this newsletter to as many people as possible – that is how spam was invented. When you advertise online or even offline you need to carefully select your audience. However tempting it may be to send your newsletter to your entire subscriber list, don’t! Take the time to segment your list according to your readers preferences.

6) PRIDE
When it comes to creating your logo, building your website or even creating an advertising campaign you, as the owner of your business, are 100% involved in each and every step. In order to achieve excellent results it requires hours of research, analysis and countless scenarios of trial and error. So it’s not surprising that you are heavily attached to every element of your business. And that’s a good thing, but it can also be a bad thing. It’s crucial to know when to take a step back and look at the bigger picture

7) GLUTTONY
Be cautious of getting caught up with “names”. It’s not enough to think that spending loads of money and hiring well known faces will guarantee a successful marketing campaign. Often it’s the most basic of ideas that are the most successful. It is possible to achieve fantastic results while still remaining within your budget. Stay grounded and true to your brand. Think about your return on investment. It’s always better to grow slowly but surely compared to trying to be a big shot (and failing miserably).