Resource Allocation

by: Nandang S Nugraha | Total views: 49 | Word Count: 557 | View PDF | Print View

 by: Michele Borowsky

So here you are…a business owner. Bravo!

You’ve got a catchy name, you’re equipped with all the
right tools, your website is up, and now you’re ready to do business.
So you start to network online, join the right groups, check out search
engine adwords, subscribe to applicable newsletters for insight, and
buy some of the better known marketing gurus books.

Hmmmm, not much is happening.

Okay, so now you begin to check out local networking
groups in your community. You may join the Chamber of Commerce, the
Elks, the Friars, various business networking groups….. and a little
more is happening.

Then you look into trade shows in your area. You need
collateral materials to hand out so you create an attractive flyer,
perhaps start to mail out some postcards, let all your networking
associates know about your trade show booth. Then you work the show……
and a little more begins to happen.

Now you start in earnest a referral program for your
existing clientele. You know, if you send me a new client I will give
you ____% off your next order.

Hmmm….didn’t get much from that.

So you then conclude that you have to start the process all over again. Work harder. Put in more time. Network more and better.

Okay, all good. But what’s missing? The fact is that
regardless of your category of business, you will actually, on average,
do business with less than 10% of all those who are aware of your
company. That’s it????? Yup.

So what can a business owner do? There’s only so much time in the day. I’m doing all I can.

Yes, you are. But how about using your time to do what it
is that you actually do, rather than trying to find people to do it
with.

It’s now time to let media start working for you.

The next step for you is to start budgeting all of your
resources. Up until now you’ve been using time, the one resource which
cannot be created or renewed. Once it’s been used, it’s gone forever.

How about starting to use another resource…..money!

Do you have an advertising budget? Have you ever even
thought about it? Invariably an advertising budget is the one thing
which new business owners don’t allocate for, don’t consider, and just
can’t bring themselves to spend. And I ask, Why Not??!!??!!

One of the reasons is that you’ve been indoctrinated to
believe that successful marketing is a function of mindset, positive,
pro-active, enthusiastic, etc. All true. And all marketing. Your
results to date have been less than explosive. Coming in dribbles
rather than a downpour, and, as previously mentioned, your conclusion
is to work harder.

What happened to paid for advertising?

How about working wiser for a change? Start to allocate a
percent of each sale that you make to your advertising budget. Just
like you have a household budget, you need to have a business budget.

And what will an advertising budget do for you? It will
enable you to reach thousands of people with your business message,
instead of just dozens. Can you imagine??? Thousands of people being
aware of your company, thousands of people considering your products or
services, thousands of people that you can market your message to. Wow.
What a concept.

About the Author

(c) Michele Borowsky

Michele Borowsky is a 20+ year executive veteran in a Media Exposure Management firm and the author of The Mother of All Marketing for Business Owners.

http://motherofallmarketing.com

She can be reached at 602-404-2657 or by emailing: support@motherofallmarketing.com

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