Do Business Well

My business plan should include how I intend to approach the complicated issue of advertising. The issues that should be addressed include:

1. How much will I budget for advertising the first year?
2. What basis will I use for determining your budget in the second and ensuing years?
3. Whom do I expect to reach with my message?
4. What advertising media will I use to reach my audience?
5. What message do I expect to convey with my campaign?

It’s the rare business that can build beyond a meager beginning without advertising. At the very least, most businesses should have a presence in the Yellow Pages. At the other end of the spectrum, entertainment firms such as nightclubs or movie theaters have to spend a good portion of their start-up money getting out the word that they’re in town. Continue Reading »

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Creating a public image has become an essential part of any sales effort. Advertising and promotion/public relations are usually the means of making this happen.

Advertising is fairly straightforward. You decide where youwant your business to advertise, determine the rates, and calculate the costs. For well-established companies, advertising can be very important, and the business plan should account for how much will be spent.

For start-up and early-stage companies, advertising is often too costly. Fortunately, promotion and public relations are much like home remodeling—they can be done either by outside professionals or by business owners on a do-it-yourself basis. When done in the latter way, the cash outlay can be minimal. Of course, even companies that advertise are well advised to use promotion and public relations techniques. What follows are some approaches for planning your promotion and public relations effort as part of the sales section of the business plan. Continue Reading »

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