I was recently speaking with the owner of a new company about his business plan and marketing budget allocation.
He wants to hit the ground running and as such has allocated a $1 million dollar ad budget for the first year, that comes out to a total monthly budget of around $83,000. Of course not every new business owner is lucky enough to have the working capital to launch with such a sizable budget, but when your budget is that large, how do you spend it?
The honest truth is that whether your monthly advertising budget is $1,000, $10,000 or $1 million dollars you have to go through the same thought process for determining how to spend your dollars.
Today I’m going to share with you what you need to do.