Launching an equestrian business is easy. Making an equestrian business successful and profitable isn’t always so straight forward. With over 40 years of collective experience working in the equestrian sector, our Equine Marketing Team shares four reasons why equestrian businesses fail and what you can do to futureproof your equestrian businesses’ success.
Not Being Prepared, Prepare For Your Equestrian Business To Fail
When you launch an equestrian business, you need to be prepared; Prepared for the company to take time to take off and prepared for the business to take off suddenly! In either eventuality, it’s essential to have a strategy in place for both scenarios. You may already head up an equestrian business that has been successful for many years but is now seeing a steady decline in sales. Very often, we see companies get way too comfortable, and before they know it, there’s a sleek new competitor on the block, and they’re losing out on sales. In business, you must remain competitive and agile to stay ahead of the competition.
Ignoring The Competition
You shouldn’t be obsessing over your competition but having a healthy interest in your competition is essential. Keeping an eye on what your competitors do is important, whether copying what you do or taking their business in a new direction. Everything they do in the public space can tell you a lot about their business and short and long-term goals. Acknowledge their progress but always ensure your own marketing strategy is at the forefront of your focus.
Not Recognising Your Weaknesses
There is a saying, ‘a jack of all trades and a master of none,’ which holds true for anyone in business. If you want to fix your car, you use a mechanic. Got an ailment? see a doctor. If you want to promote your business to the media and beyond, you appoint an equine PR and marketing professional. Even if you are super skilled in various areas, you shouldn’t have the time to focus or dedicate efficiently to all areas of your business if you manage your business effectively.
Appointing Equestrian PR Professionals To Help, Then Not Listening
We work across various industries, and the ‘I know best’ culture is particularly prevalent within the equestrian sector. Brands will often discard their equestrian PR and marketing teams, believing they aren’t taking them in the right direction. That ‘right direction’ when they explain is often the ‘wrong direction’ for their brand and business. Not every PR company will be amazing, but it is worth stepping outside your ‘bubble’ and taking a different perspective. Equine PR can help your business. Remember, if you are choosing to work with an equine marketing team with many years of experience and expertise working with brands and companies, small and large, the likelihood is that they probably know a lot more than you!
Want More Expert Business Marketing Advice? Read What Is Marketing & How Do I Use It?