How Your Business Growth Is Created At Will
Inherent in your last sale is the ability to get your next sale.
Like any fruit, your last sale contains the very seeds which will produce many more of its kind. By investing at least 10% of your revenue into marketing, your previous sale can now spawn additional sales at some time in the future.
One of the barriers to investing such an amount is the misunderstood subject of budgeting. I have interviewed numerous business owners over the years, as well as presented to thousands of professionals at seminars over that same time period.
Almost no one who I have met or spoken to publicly has a set amount of money that they routinely assign for marketing their business.
Budgets Evoke Negativity
Why? The word “budget” inspires almost no one to take positive and consistent action. In fact, the word evokes negative ideas and limiting beliefs for many.
“It’s not in the budget.”
“That’s way over budget.”
“We will have to wait and put that into next year’s budget.”
And yet, these statements - and others like it - are said by those who possess no actual, written budget. The word has become a negative and limiting idea which many state with very little thought and even less action.
Investing Is Like Marketing
Ask any wise and seasoned financial professional how wealth is built - BY INVESTING A SMALL SUM OF YOUR EARNINGS SO IT CAN GROW!
How does a 401k grow? By setting aside a small amount of money on a routine basis in an specified account, for a very specific purpose. Over time, your money grows and the interest compounds to add to your wealth.
Your business grows in value just like any investment account. It grows in terms of new customers, repeat customers, word-of-mouth, positive reputation, and brand equity.
Without marketing, branding, and publicity, you cannot grow your customer base and get your name well-known and trusted.
Your 10X Growth Account
That’s why you should refer to your marketing budget as your “10X Growth Account.” Call it, refer to it, and more importantly, treat it like your 401k.
I’ve tried this before and it works. The second I get people to view and articulate their budget in this manner, their tones rise and A-ha moments are had by most. The limiting ideas which are subconsciously attached to the word “budget” now begin to vanish.
And in that vacuum, thoughts of expansion and new strategies begin to emerge in their mind. Try it.
And like any investment, you want to invest your 10X Growth Fund into activities which are proven to work much more than not. So, that requires a intense study of your past statistics, successes and failures, as well as all current marketing trends which is generating ROI and growth.
Intelligently placed, and continued over time, your 10X Growth Fund will achieve its purpose: financial stability and prosperity.