I pulled out the chain saw and thought, I can’t remember how to start this.
Vines and scrub trees were growing into the landscaping in our backyard. I had been putting it off and finally decided I needed to take care of it. I hadn’t operated the chain saw for a couple of years, so it took me longer to refresh myself on starting and operating it.
Chain saws are fun… and a bit dangerous.
The vines were thick. They got caught in the chain (operator error) and the chain popped off the track.
Dang, I thought. Now I have to figure out how to put the chain back on.
Into the garage, find the right socket, take off the housing, drop the chain on the floor… Finally, I get the chain back on. I walked back into the woods and… the chain was on backwards. When it’s on backwards, it doesn’t cut.
Back into the garage, find the right socket, take off the housing, drop the chain on the floor…
When you start/stop your marketing it’s like my experience with the chain saw.
Everything takes twice as long. Getting up to speed. Figuring it out again. No momentum. No mastery.
Think about what we were taught about investing: DCA. Dollar cost averaging. Saving consistently.
Your marketing must be consistent.
Most advisor start/stop. No momentum. No mastery.
Start with a marketing budget.
The U.S. Small Business Administration says you should spend 8 percent if your revenue is under $5M, 10 – 12 percent if over $5M. That’s so funny. You need marketing to grow your revenue. If your budget is less when you are smaller, how will you ever grow?
One, stop thinking “spend” when you think about marketing. Think invest. Marketing is your #1 lever.
Two. Commit to an annual investment in marketing. Here’s a rule of thumb: Invest the percentage you want to grow. Want to grow 20 percent? Invest 20 percent of your revenue.
Three. Keep investing throughout the year. Keep investing when you don’t have business and keep investing when you do. No more start/stop. No more chain saw marketing.