This is a story I have heard more than once. A company spends a whole lot of money on developing a product or setting up an office or store full of stuff and when it comes to branding, advertising, publicity and generally getting the word out to attract customers - the coffers are empty.
So, the business sits there...with the owner crossing fingers and hoping that what they are offering will be discovered, perhaps by some divine intervention. When starting a new venture, and planning your budget, it is smart business to budget for your promotional future, even if you have to start small and increase your promotional spending as your revenue increases. This will certainly help you stay in the business of choice and not be looking for a secondary job to be supporting your business because no one knows you have a business except your close friends.When trying to figure out a promotional budget, ask around. Call a friend in business, meet with public relations firms, and read about promotion and see if you can do some self-promoting on your own.
A well thought out plan to spread the word about you and your business will speak volumes down the road and will make for easier driving.
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