In a few days it will be June, which is the end of the first half of the calendar year and the beginning of the second half. This could be a ‘new’ beginning for your business or the continuation of your momentum in growing your business.
Over the past two weeks I’ve been reevaluating my business overall to determine what steps I need to take to move it to the next level. A periodic appointment with yourself to evaluate your progress is important to determine if you’re staying on track.
An honest evaluation will reveal how you’re doing, but it can also mean that you have to revise your strategies as the path you’re on may not be producing the results you’d hoped for.
My evaluation revealed that a very important segment of my business strategy is not being implemented consistently. In fact, it’s time for a complete overhaul. While I’ve engaged in some marketing, my business is missing a solid Marketing Plan for growing my business.
Recently I wrote three posts on the importance of a Business Plan and included in your Business Plan should be a Marketing Plan. This is such an important aspect of your business that it needs to be listed separately.
Marketing is essential because if allows you to let people know about your business – whether offline or online – so you can attract more clients and customers. Because you always need more clients and customers, not only is it essential, but it’s critical to your business.
In her book, The Business Startup Checklist & Planning Guide, Stephanie Chandler noted, “…marketing is an investment in your business. As a new business owner, you will face some trial and error as you test different marketing options. You should plan to invest heavily on marketing in the first six months to two years to get your business off to the right start.”
Of course, “investing heavily” is subjective, because many entrepreneurs may be operating on a shoestring budget. The investment, however, may need to be time that you devote to using free resources to market you business, whether goods or services.
Do you have a Marketing Plan? Would you be interested in knowing what items or methods are available to create a Marketing Plan? Stay tuned for my next post.