Dear Entrepreneur,
Invest in marketing. Many entrepreneurs view marketing as an unnecessary expense and hesitate to spend significant funds and time, if at all, to market their business.
As a result, they never build brand awareness, generate leads, or create buzz.
Marketing is an investment, not an expense. Depending on your industry, goals, and stage in business, the percentage of budget you spend on marketing might vary from 2% to 20%.
Research the benchmarks for your industry, and be willing to invest the same or even more. If a $1,000 ad campaign could land you a $10,000 client, isn’t that worth it?
You don’t even need to start with investing money. You can start by utilizing free or nearly free marketing options, such as networking, social media, and SEO, and ramping up as your business continues to grow.
With love,
Chidi