How Much Money Should I Spend On Marketing?

This is a common question I get from new entrepreneurs as well as veterans.

Old school marketers for any kind of business might calculate this as a percentage of profits. Others will tell you to spend more on marketing in the beginning to get some momentum or even the snowball affect.

There are two questions you need answered first if it is a home business:

  1. Do I have more money or time to spend on my business?  To further understand this check out the balance scale for time and money.
  2. What is the Lifetime Value of a customer or team member?

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{ 1 comment… read it below or add one }

Sloan Wright July 6, 2011 at 4:49 pm

very helpful!

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