ADVERTISING = AWARENESS
By Jason Arsenault
Owning a small business can be tough. Not only can it be one of the most rewarding things you do in your life, but it also can be the most grueling venture you ever undertake. Many times, our business will come to define us; it becomes one-in-the same. Say you’re an accountant and you no longer seen in the eyes of your friends as the person who enjoys hiking, but now you are the person they are asking tax advice from. However, it takes some time to get to this ‘I have arrived moment’. In the beginning, it is all about finances. What is the cost of the space I will need? What equipment is essential for the job; do I purchase the equipment or lease? Do I need to hire employees? How much inventory should I have in stock? How much money do I need to keep this business afloat until it starts to earn a profit? We get so
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concerned with money that we often forget the most important question: How will I reach my customer? When you are a business owner, you need to think of yourself as a brand. Is it your desire to become like Dell Computer, rather than Gateway? This should always be a focus of your business throughout its life. You stop advertising your brand when you stop being a brand. You must make this financial decision, and then go with what makes sense for your brand and the best bang-forthe-buck. The first thing you need to figure out is who your customer is. If you want to open a restaurant here that serves a more expensive meal, it probably doesn’t make sense to put your brand-awareness dollars on social media. Expensive meal tickets draw an older crowd, not young people who spend the majority of their time on social media but fail to have the money to be a regular
