Are Marketing Budgets and Plans Really Necessary?

Do you feel a bit overwhelmed with what it will take to get your business started? Do you feel that having an idea is enough and anything beyond that may be unnecessary? If you look at the idea of marketing budgets and plans, do they feel like an extra step? Though you may resist them at first or feel that you are ill equipped to answer these questions, there is some true merit to having these elements in place. Even if it’s just some basic information and general numbers, these can help you to move forward in a really effective way. It’s important to understand the purpose of this and how they can set you up for lasting success moving forward.

When people set out to start their own business, it usually starts with an idea or a passion. This is an excellent starting point, but then you need to add some definition and some important details. When you get to that point you find that you want to really improve upon where your business can head—and the truth is that good marketing budgets and plans can help you to get to where you want to be. You may look back on the early renditions of this someday and laugh, but for now it gives you valuable experience in getting things started.

Don’t worry too much about the formality and know that there are tools and guides to help you to get started. Even if it’s an Excel spreadsheet to ensure that you track things, it’s something and it gets you heading in the right direction. There are some wonderful advantages to having marketing plans and a budget in place, and here is why they can be quite necessary and helpful all at the same time.

  1. They give you a starting point: If nothing else putting some detail into marketing budgets and plans gives you a good starting point. It helps you to organize your thoughts and figure out where you are. It helps you to think through where you are and where you need to be. You can utilize these two tools as a great way of getting things going and figuring out how to move forward with your business. Don’t ever discount the idea of getting organized, and therefore these two business tools can provide a huge value in this capacity even if they are loose at first.
  2. They provide a framework to utilize in setting yourself up: You have an amazing business idea and the courage to get started, but you need to get things moving. The framework of marketing plans tells you where you need to be and details out how to get there. The budget tells you what expenses to expect and what you already know about.
  3. It helps you to spread the word, get your name out there, and ultimately launch your business successfully. You need people to know about your business product or service and these plans and budget expenses help you to decide exactly how that will happen. This framework allows you to consider what matters in launching your business and giving it staying power as well which is equally as important.
  4. Know that your plans will change and that is OK as they give you targets: The very first version of a marketing plan or budget that you put together may not be what you use moving forward. It is likely to change shape and to evolve as your business does. It allows you to get things moving forward and it gives you some very significant targets to work towards. That’s not to say that you won’t change your mind and your business targets in the future, because you more than likely will. This allows you to get into the right mindset and ensure that you have something to work towards—and therefore this thought and planning is bound to serve you quite well.
  5. Putting detail into them can help you to define your business overall: Even if you have never put together a marketing plan before, this is a great time to start it out. You will find that this helps you to answer pivotal questions about your business. It can also act as a great into what you want your business to be or where you hope for things to go. If you need help in putting together a marketing plan or business plan it is recommended that you enroll in a group coaching course or engage a business coach or consultant.

Though you may not have a lot of knowledge in this area, it’s a great framework and you can find some helpful templates out there to get you started and a business coach can help. There is so much to gain and it can help to unlock other areas of your business that you never even thought about. This can truly help to define what your business is and what it can be, so use it knowing that it serves a greater purpose.

Get started on your marketing budget and plans they do not need to be complex or lengthy. plans and a budget for your business. Know that it will change shape over time and that it serves as an excellent starting point. This can help you to move your business forward in a dramatic and wonderful way, and you will always improve upon it as you gain more experience and insight.

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A coach and leader takes people where they want to go…..Nicki has done just that. She is an inspiring leader, a great coach, an excellent mentor who has the keen eye to recognize skills. If it wasn’t for her coaching, I would not have done my Project Management certification. Big thanks for all your guidance, mentoring and coaching, I look up to you and consider you my role model.    

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I chose Nicki for her knowledge of the healthcare sector at a time when my company needed to improve its marketing and lead generation. She listened to my needs and together we developed a strategy to target the audience I wanted to reach. With her help I assessed the market, determined if my business idea was viable, confirmed my pricing strategy and developed my marketing material. Through her expertise, I expanded into new markets and connected with her contacts in the health sector. It was a highly valuable experience, resulting in new and exciting opportunities for my expanding business.

 

2016-09-28T15:56:41+00:00
I chose Nicki for her knowledge of the healthcare sector at a time when my company needed to improve its marketing and lead generation. She listened to my needs and together we developed a strategy to target the audience I wanted to reach. With her help I assessed the market, determined if my business idea was viable, confirmed my pricing strategy and developed my marketing material. Through her expertise, I expanded into new markets and connected with her contacts in the health sector. It was a highly valuable experience, resulting in new and exciting opportunities for my expanding business.  

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