The fear of spending thousands on traditional advertising, direct mail or television and radio with no new business is real and overwhelming. But it’s these limiting thoughts that actually create an environment of wasted time and money.
Seth Godin recently wrote about ad agencies not spending money on themselves and asked the question, “… do successful businesses spend money on media, or does spending money on media make you successful?”
It’s a deep question and even Seth felt that it’s really a little of both. I do agree with that thinking because even the solopreneur spending their hard earned savings to start their business can make wise investments in their marketing. Small business owners need to be comfortable with the fact that spending money on marketing as an essential part of their business functions and not see marketing as something to be fearful about. This selective marketing fear comes from the unknowns. The truth is that marketing is and can be a regular process just like accounting and sales.
By understanding how marketing can raise the value of your product or service, it’s easier to see that it’s an activity worth some time and attention. Notice I didn’t say money. You don’t need to spend millions. You’re an entrepreneur, a local business owner looking to carve out a profit in this crowded economy. The important thing to spend is time for planning and strategy. Explore the knowledge needed to build a solid strategy. Most of it exists all around on the Internet, workshops, webinars and in books. Get to know about planning and face the fear of marketing. See, it really isn’t a “last resort” or some scary unknown. If you hang around this blog, you’ll see that marketing starts with a strategy and ends with a plan that is actionable and relevant for your business. No, there is no magic bullet. There are no absolutes. It’s a mix of spending a little time and money to be successful and then doing it again to stay successful.