Written In Stone

VIII. Budget your time and your money

Marketing programs need to be tempered by two kinds of budgets: time and money. If either or both are limited, you need to carefully examine the strategies and tactics you'll employ to accomplish your goals. Generally, the more time you can devote to your marketing efforts, the more money you save. If, for instance, you can write your own ad copy or send out your own press releases, you won't have to hire someone to do those things. On the other hand, if you're the only person going on sales calls or you need to manage operations and don't have the time it takes to create good marketing materials, it's wise to hire someone to help.

Gwen Moran is a freelance writer and co-author of The Complete Idiot's Guide to Business Plans (Alpha, 2010).

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This article was originally published in the July 1999 print edition of Entrepreneur with the headline: Written In Stone.

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