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You're only as good as what you're promoting. Great marketing will not make up for a terrible product. I do freelance work on the side and have turned down a lot of clients specifically because of this. I don't want my reputation tarnished because my perfect funnel wasn't enough to make up for a low quality product or awful website.
100%
It takes time. I can’t tell you how many clients I’ve had that expect overnight results, and get upset when it’s a week in and they haven’t seen any changes.
It's guessing, but educated guessing. It's true that experience and developing one's instincts can help enormously. People don't always appreciate something that relates to what David Ogilvy famously said about advertising. Half your efforts may be wasted, the problems is that you can't know which half.