Why Bootstrap Marketing Can Be More Expensive Than You Think

The simple reason is because Time is Money.

Every hour, especially if you are a service based business that you spend on implementing marketing tactics for your small business is actually costing you time that otherwise may have been spent on generating income.

For most small business at one time or another we actually do need to turn to the no or low cost marketing, especially in the early days. It is important however that we look at where we are spending time and could there be a better alternative, such as outsourcing or in fact not doing that marketing activity.

Here are a few questions that could help you when you are next faced with a decision of whether you should do it yourself:

How Much Time Do You Have?
No doubt you are strapped for time, so every hour counts in moving your business forward. Work out how many hours a week that you have available to do your own marketing or to work on a project. If you find that you can only afford 2 or 3 hours, then this will help you decide just how much you can do yourself. If a project is urgent, for example a new website, then it could be time to outsource this project or at least the parts that you do not have the experience with.

Is This Marketing Activity Necessary?
We hear of new marketing tactics and tools everyday. Perhaps you could put each one to a test of whether the marketing activity is going to actually build or strengthen your customer relationships. If it is a nice to do but not critical to your marketing success at this time, then put it to one side for the time being.

Do You Have the Expertise?
Like most things in life it takes time to gain knowledge and skills. If you do not have the expertise, then if the marketing activity is necessary and important you could consider outsourcing in the short term to implement it. You could then take it on board once you have gained the necessary skills to implement it or a similar marketing activity yourself.

What is the Return on Your Time?
This actually goes back to the importance of planning your marketing activities, knowing your marketing objectives and selecting your marketing strategies. If you can prove to yourself that spending your time on a particular marketing activity is going to generate income and meet your marketing objectives then go for it.

There are no easy answers on what we should be spending time on to build our businesses. However, perhaps it is a reminder to always consider the time and effort you put into any activity as a cost to your business.

What are your thoughts?