I speak with many small business owners who scramble to spend money on business cards, brochures, websites, ink pens and other gadgets. Additionally, I hear the same small business owners complaining about not having enough money left in the budget to cover bonding costs, other business necessities, or to even eat more than a few donuts! So, what’s the deal? Here are some simple pointers when you are considering spending your dollars and living on donuts in order to purchase marketing materials. Work equally on both tactical approaches and strategic approaches. Your brochures, websites, etc… are your “tactics”; your “strategy” is the long range goal or overall impact you want your company to have (the ultimate marketplace position or perception you want your clients to have). Now, ask these questions BEFORE, you spend any dollars:
- How do your tactical efforts support and help accomplish the strategic position?
- What are the strategic objectives of each tactical effort? (brochure, window card, etc)
If you are spending the money on tactics (brochures, websites, etc…) simply because ‘other people do’, save your dollars until your tactics support your strategies and you can hang out with ROI (Roy)… your Return On your Investment! Don’t be so quick to lose your dollars on tactical items without ROI’s connection to strategy. No ROI means trading your dollars to live on donuts! Besides….donuts are sooo unhealthy, and dollars fit better in your pocket!
justbelimitless 