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Achieving right balance requires a management skill, even though you may never before have seen it that way. Where do you apply that management skill and how? I suggest you at least bear following in mind at all times:
· Managing your business is an attitude of mind; an awareness. If you can elevate yourself to thinking as a manager, even though you have nobody other than yourself to manage, then you are setting yourself up to be a better and more successful business owner.
· Critically examine all requirements, or temptations, to spend money on marketing. If marketer in you is anxious to spend, you should stand back from that and take a balanced view. Examine your proposed spend again next day. You may have a different and more circumspect view next time.
· Having a marketing budget is important. Try to stick to it, but be prepared to increase it out of profits if something is going well.
· Evaluate all marketing options in terms of your budget, time, risks and expectations.
· Be very selective about marketing options you choose to utilize, and then ensure you have a way of tracking their effectiveness. If you don’t, and you’re trying a number of options at once, you will not have much of a clue as to what is successful and worth continuing, and what should be dropped from your marketing mix.
· Be prepared to stop any marketing campaign that is not getting results within a reasonable time scale, but also try to make a sound judgement on what is a reasonable timescale. It is as bad to prematurely stop a campaign that could have been successful following month, as it is to carry on with a campaign you should have stopped.
· Review effectiveness of your marketing efforts regularly, at least monthly but preferably weekly. Keep your finger on pulse of business.
This has just been a brief introduction to managing your online business marketing. In any business, getting marketing right is crucial. Online marketing, with its thick veil of hype, is particularly hazardous. As you develop more of a management attitude, you will find it that much easier to see through hype, and nurture your business through many steps to success.
Roy Thomsitt is the owner and author of http://www.change-direction.com, and owner of http://www.home-working-start-up.com