CREATE YOUR MONEY MAP (Marketing Action Plan) Define Your Budget

Budgets, and especially marketing budgets, can vary greatly.  The most important factor here is to acknowledge that you need one to run a business and it’s best to establish one for the year.

I really don’t care if it’s $100 or $10,000, or more.  The important thing is to set one.  If you don’t, you’ll probably spend more than you expected and either use funds you don’t want to use or worse, don’t have.

Once a budget is established, you’ll want to have your MONEY MAP (outlined on a calendar) completed before you allocate your funds to a few or variety of different purposes throughout the year.

Remember to do as much as you can yourself.  This requires understanding your own skill sets and where you have strengths and weaknesses. Knowing what you CAN and WILL do yourself will invariably help you determine what you need to outsource.

Track your spending, so you know when your dollars are spent or freed up.  And then you can identify specific projects that will require additional dollars.