NFIB

Don't Wait Until You Need New Business to Begin Marketing
04/ 02/ 2002

Most people begin their small business because they love the work they've chosen to do -- not because they love marketing. As a result, too many small business owners drop off marketing as soon as they get enough work to fill their time. In today's Workshop, Jeffrey Moses shows why this can be a mistake.

It is important for small businesses to establish an ongoing commitment to promoting your company. Include marketing in your business plan and in all short-term and long-term to-do lists. The best way to motivate yourself to continue marketing, even when you have all the work you currently need, is to set aside time weekly, not monthly. How much time should be set aside? That depends on your type of business, but in general you should devote enough time to contact at least one or two strong new prospects each week. Many of these contacts won't start immediately, but by continually making connections with viable new customers, you'll keep things warmed up. Then, should you ever need additional business, you'll be far along in the process of making new contacts.

Eventually, new customers will result from your ongoing marketing efforts. If they come along when you already have all the work you can handle, you have one of the best possible problems--too much work. When this occurs, you have several options:

1. Put in longer hours and make extra money. (In this situation, you need to stop marketing temporarily. You want to avoid draining your energies and not being able to devote enough time to each of your customers.) Eventually, one of your customers will cut back or drop off. When that happens, you'll be back to the ideal workload.

2. Hire an employee or outside contract help. Unfortunately, both of these options require time to set up.

3. Decline the work. This can still leave a strong potential for future work.

4. If you've been giving good and consistent service to one or two clients that you know would like to save a little money, offer them the chance to cut back slightly on your services for temporary savings. This will give you time to service your new customer.

Small business owners know that it's usually feast or famine. But continue your marketing, even during busy times, and you'll enjoy a strong, uninterrupted cash flow.

Small Business Sound Off
Does this story hit home?  Share your story with us