Old Wisdom: You Have to Spend Money to Make Money

I know it isn’t always the easiest thing to do, especially for a new business. You spend the money to buy/rent a building, and then you buy all your merchandise. After that you hire people to run the store, and you spend money on the marketing, on the supplies, just money on top of money on top of money. Finally you ask yourself, “When am I going to make money instead of spending it?”Why does anyone start a business? Your goal might not be to become a millionaire right off the bat, but most want to make at least a decent living off of the business they run. Forking over all that cash can be a discouraging venture, but some of it is obvious. You know you have to spend the money on the building, on the merchandise, and on the people running the store. This is a cost people accept upon opening a business. The problem is when it comes time to do your marketing, and then it all falls apart for many.“I will target everyone,” they say, because everyone would enjoy shopping with them, wouldn’t they? I won’t bother to spend the money to research a target audience or print out a bunch of flyers, brochures, or any other kind of advertising. I have spent enough, they might say, and that is where they will be wrong.The effective use of commercial color printing for whatever kind of advertising you plan to use is going to cost money, but it is money you are going to have to spend. I cannot state this enough. You cannot expect people to just walk on in and provide you with great business just because you opened your doors.Do not worry so much about the costs of the marketing material because to properly advertise you simply need to spend the money on it. The more stingy you are the greater the odds you’ll be left behind by the businesses who know how much of a return they can make off of the investment of worthwhile marketing.Money isn’t the only investment a business needs to make. Take the time to learn your industry and the type of customer base it has. The more you know about the people who are likely to shop with you the more focused your marketing will be.It is not always easy to open up your wallet for anything, especially when so much money goes into other areas of running a business as well, but you also cannot expect to make any money if you are not willing to spend some in the process. Any business is an investment. Don’t get carried away focusing on making money before you’ve taken the time to understand how you can go about doing so.

Kaye Z. Marks

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