Marketing Your Small Business for Low Budget Through Your "DNA"

There are vast choices out there for a small business when it comes to marketing. Now a small business can get relatively a lot of advertising for low budgets. From Google CPC (Cost-Per-Click) to email lists and other forms of electronic distribution; the Internet has both evened out the playing field for small business advertising and in other ways, made it extremely difficult and competitive.

How will you know if a certain small business advertising tactics and programs will work for you?

The answer is simple.

Make money WITHOUT using advertising FIRST.

Many small business owners and entrepreneurs make the mistake of spending valuable financial resources without first taking inventory and understanding the opportunities that are built into every company. These can be typically exploited without spending money up front.

Here is a simple three step process to examine your business and see if there is anything you could be doing now, BEFORE spending money on costly advertising. Once you have leveraged you internal assets and generated some revenue, then you can begin to safely explore advertising options.

We all this process "DNA" because every small business has a unique DNA. And much like the human body it determines potential and opportunities. It is also important to understand your DNA because just as an ER doctor would never use blood on a patient the body would reject, the same goes for your business. Understanding your DNA will help you make the right choices when it comes to small business marketing - especially on a low budget!

This process requires your involvement and you will eventually need a pen and sheet of paper. The three step process is:

DISCOVERY: Challenge & Opportunity

Spend time brainstorming all your challenges and opportunities.

By challenges, we mean what is standing in the way of you achieving success? This is important to understand so that you can get an honest look of what issues you will be facing and if there are any you need to solve before you take the next step.

Now write down your opportunities. This may seem pretty obvious but it's not that easy to see when you up close and personal working in your business. When we think opportunities, we might think certain projects, relationships or even business offers that might be sitting under your nose. If you see any opportunities that will not be hindered by your challenges, go no further and start on it right away - take action!

NETWORK: Strategic & Social Assets

Everybody has a network of assets. Strategic assets are WHAT you know and are good at. Social assets are WHO you know that could help you with your business. It's time to lay this out in front of you for some decision making.

Write down all your strategic assets. In other words write down everything you know that is of valuable or everything you know you are really good at. For example, let's say you have a certain expertise in an area of your field. Then you may want to consider promoting that as a niche of your business. Or another example may be you are an excellent writer. Then writing and publishing articles or blogs may be the next step. Whatever your strategic assets are, you must ask yourself how you can harness the value in them to help your business.

Next write down your social assets. This should be everyone you know who is either a raving fan of your business or someone who could connect you with potential clients. We call these people "advocates." One of the best marketing tactics that costs little to no budget is making strategic alliances. You could easily create a referral source that you only pay when you generate revenue in commissions. Or you may even be able to barter and save money. There are as many possibilities as there are people you know.

ACCELERATION: Action & Accountability

This is the toughest part of the DNA process. As we have mentioned, sometimes it is very difficult to work ON your business, when you are working IN it every day. That's why we always advise small business owners to join a professional group or develop an advisory board or something comparable to assist with action plans, goal setting and accountability. How you set this is up is completely up to you and the nature of your business. But it has been proven time and time again that the most successful businesses and entrepreneurs have all used support, mentoring and coaching groups at some point.

One last note. The DNA process is ONGOING. Just as we are constantly evolving as people, so will your business. Try the DNA process at least once every couple months.

Good luck and have fun building your perfect economy!
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