Why Having a Time Budget is Smart When Marketing Your Brand

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If you have money to spend on marketing you set a budget and then allocate the funds to those activities that result in revenue increases for your business.

Or at least that is the goal.

You put effort into choosing the right activities and not just jump from one to another as that is a sure way of wasting your money.

Once the money is gone that is it.

Well as there are more free or very low cost marketing activities it strikes me that there is an opportunity to apply the same process.

Why?

You actually do want to see a return on your time. Otherwise, why are you spending your precious time on something that feels good but does not move your business forward?

As Heather Smith @MYOBTrainer said when asked on Twitter: I think some say ‘I am working on my biz’ but they should be tracking the effect of every thing they do.

Here are a 2 advantages of having a time budget and yes I have made up the term.

Helps You Focus

Having a time budget keeps you focused on those activities are essential to action for your business to succeed.

It also stops you from getting sidetracked on the latest must do. If you had a dollar budget that you could spend you wouldn’t part with the cash on something one day and then stop and spend money on something else the next day.

The same goes for your time budget.

Allows You to Track Your Results

Just as with money if you decide you will spend time on certain activities, then by tracking the results you can see what you get. Some will not produce insant results, we know that but if don’t track you will never know  if you are spending your time wisely.

I think budgeting for time is only going to become more important, so why not take action now?

What is your take on this?