Principle 18
Marketing Your Business Instead of Advertising It
No matter how substandard you feel your skill or talent may be, if you never produce your art, the world will always remain deprived of it.
—Derek R. Audette
In this chapter, you will learn how and where you should spend your limited budget, your time, and your money marketing your business. As you will read here, I have never been a big fan of advertising your business. I think it is both risky and expensive, and it often doesn't generate a single phone call or lead.
Marketing can be far less expensive (and sometimes even free), and it can create tremendous results for your business. I'm going to share with you how and where to allocate your marketing budget, and I will offer you ideas so you can better market your business. You will also learn numerous no-cost marketing techniques. Finally, I will profile and share real-life examples of how the founder of one of the most successful restaurant chains in the United States took on the biggest restaurant in the world and received millions of dollars in free publicity as a result. The Affluent Entrepreneur often has to out-think the competition in order for his or her business to get the necessary publicity to achieve its financial goals.
The Difference between Marketing and Advertising
Every guru today has his own definition for the most frequently used terms in business, and I guess to some extent, I am no different. Of course, we would all agree that marketing and ...
