Tag: Business

Things You Should Do In The First Period Of Your New Business

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In the first period of your new business, there are specific things you need to do to continue the growth of your operations. The following contributed post is entitled, Things You Should Do In The First Period Of Your New Business.

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Starting a new business is exciting. It’s an opportunity to build something from the ground up, and you have all of these ideas for what it will eventually be. But before you start dreaming about where your company could be in five years or how much money it will make, there are some things that should happen first – things that can help pave the way for success no matter what industry you’re in!

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1) Create A Business Plan

A detailed and well-thought-out business plan will keep you on track as your startup begins to grow. It’s important that your plan is used not only for internal purposes but also when speaking with investors, clients, and other stakeholders. A strong business model can help you attract the capital required to get started or scale up later down the road; it sets expectations about what the company’s product and service offering should be and how much money it needs to become profitable; it helps establish milestones, so everyone knows where they stand at any given time; and much more.

2) Define Your Business Goals

Setting and achieving concrete business goals is essential for any new venture. Without knowing what you’re working towards, it can be difficult to stay on track or make informed decisions. Take the time to sit down and define what you hope to achieve with your business – both in the short and long term. Be specific in your goals, and make sure they are realistic and achievable. Having tangible objectives will help keep you motivated during challenging times.

When setting your business goals, remember to keep the following in mind:

-Your target market: What does this group of people need or want that isn’t currently being offered? How can you solve their problems?

-Your unique selling proposition: What sets you apart from your competitors? Why should people choose to buy from you instead of the competition?

-Where and how will customers find your business: Is it online or offline, and does this fit within those who are interested in what you have to offer? For example, an eCommerce site is not going to be as successful if its targeted audience prefers brick-and-mortar shops.

3) Promote Your New Business

Even when you are starting from scratch, you should take the time to promote your new business with business networking.

  • Make sure that you have a website up and running with email addresses for everyone who works at your company or is part of it.
  • Try promoting on social media sites such as Facebook and Instagram, where people can post pictures, videos and even write comments about their experiences using your product or service.
  • Post in forums online, so other businesses will know how great working with yours has been! Remember to include links back to any pages which describe what your company does further!

In conclusion, there are many important things you should do in the first period of your new business. By taking the time to implement these strategies, you’ll be on your way to a successful future. Remember to stay focused and motivated, and don’t be afraid to ask for help when needed.

Why Marketing Is Important

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Marketing is a key component of any business as it alerts potential new customers of your operations and reminds current and older customers of the value you provide. All of these can lead to profits. The following contributed post is entitled, Why Marketing Is Important.

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If you’re in the midst of planning your business and you have ever considered why certain areas of business get so much more attention than others, you wouldn’t be alone. So many company owners don’t quite get why marketing is such an important part of the business setup process, but it’s vital that you do! When you open a business, you do so because you want to appeal to a certain audience. If you don’t have a marketing strategy, that audience isn’t going to see anything that you do.

In the world today, marketing is still looked at as advertising, but it’s so much more than that. You have to choose what to sell and to whom you sell it and with the right marketing plan, you can ensure that you do reach the audience you want to reach. Promoting your business is one of the most important aspects of marketing. The right marketing agency is as vital as the right marketing plan, as you need the best support to make sure that you get your marketing out to your audience in the right way. Business promotion makes a huge difference to your company, and we’ve got some of the reasons that marketing is important.

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1. You’re providing information to your audience. When you compete in a crowded market, you need to know why your product and service stands out among the rest. If you know this, you’ll be able to better market your product and appeal to a wide range of audiences.

2. Marketing drives your engagement. The whole idea behind marketing is that you can get people to your business website and make sure that you are standing out among the best. You can see the views for your website grow and you can track how many visitors to your social media you get, too. You’ll gain more traction, your website will grow and so will your presence online.

3. You can build better brand awareness. A big reason that marketing is so important is in how it can build awareness of your brand. You want people to choose your business over other people, and that means being proactive about building brand awareness. Effective marketing strategies will help you to do this and you’ll do it much better, too.

4. You can promote sales. You want your business to be able to sell, right? Well, that means you need a good marketing strategy to make it happen. Unless people know about your products and services, you’re not going to make many sales.

5. Growing your business. When you have a good marketing plan, you’re going to grow your business exponentially. It’s vital that you know how to grow your business properly because when you do, you’re going to be able to grow your business and ensure that you build up a very strong customer base.

Your business cannot work without a proper customer audience, and that means that you need effective marketing techniques to get you there. Choose a good marketing plan today!

It’s Time To Learn The Secrets For More Foot Traffic

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. No matter what business type your in you have to learn how to drive traffic towards your operations. The following contributed post is entitled, It’s Time To Learn The Secrets For More Foot Traffic.

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Are you interested in increasing sales in your business model? If you are running a brick and mortar company then this means that you need to focus on elevating the levels of foot traffic. There are a few ways that you can achieve this with your company.

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Increase Curb Appeal

First, you should think about how to increase the curb appeal of your business. If you make the outside more appealing, then customers are far more likely to want to see what things are like inside. There are lots of ways to boost the curb appeal. For instance, you might want to hire a professional window cleaning service. The best window cleaning company will mean that you can ensure that your windows sparkle and shine. This can even help guarantee that your company feels more modern overall.

Awesome Signage

Next, you should think about adding the right signage to your business. The best signage will ensure that your company feels far more welcoming and enticing overall. When you are choosing signage, make sure that it does match your brand identity and the message that you want to send to new customers. More extravagant and elaborate signage options are sure to catch the right levels of attention from people passing your business by.

Omnichannel Marketing

If you are serious about bringing higher levels of foot traffic to your business, then you should explore a more connected marketing strategy. Essentially, you need to think about using an omnichannel marketing solution in your business. Omnichannel marketing will mean that you can ensure that customers arrive at your business from a wide range of sources. One of the ways that you can use this type of strategy to boost foot traffic would be by taking advantage of a nearby digital billboard. You can then post your social media feed on the billboard, advertising an offer that is currently available at your store or business. You will need the help of a skilled marketing solution to set something like this up for your brand.

Location, Location, Location

Finally, if you’re not seeing the levels of foot traffic that you hoped for with your brick and mortar business, then it could be worth thinking about changing location. Choosing a new location could have the right effect and ensure that you do bring more customers into the fold. In the short term switching locations will cost you money. However, in the long term, it could lead to a huge impact in increased sales. If you are thinking about switching locations, it’s important to complete the right amount of research. You need to find a place that does see huge crowds pass by down the street every day.

We hope this helps you understand some of the key steps that you should take to gain more foot traffic to your business. If you explore the best options here, then you can make sure that your company has a far greater presence on the market as a whole and gains a competitive edge.

It’s Time For Your Business To Stand Out From The Crowd

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. One of the keys to making your business successful making sure that it’s distinct from your competitors. The following contributed post is entitled, It’s Time For Your Business To Stand Out From The Crowd.

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Are you keen to achieve growth with your business brand? If so, then you need to make sure that you are focusing on ways to guarantee that customers choose your company over the competition. Here are some of the steps that you can take to ensure that this does happen.

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Find Your USP

First, you should think about your USP. Your USP or unique selling proposition is something that you can bring to the market that customers can’t find from other companies. Even those selling similar products to you or offering the same services for a lower price. Your USP can be anything. For instance, you might want to think about offering a rapid turn around. Customers these days are likely to reward a business if they can guarantee that they can deliver their products without any delays or issues. Particularly, if you give them the power to keep track of the products that they are buying from you.

Discover The Voice Of Your Brand

It’s important to make sure that you are saying something with your brand. This means that you need to find your voice to help guarantee that you stand out from the crowd. Finding your voice isn’t always easy and you may want to explore the main different brand archetypes to find the one that matches your business and makes sense for you. Once you understand your archetype, you can ensure that each piece of marketing and promotional content that you release makes sense for this specific archetype. Ultimately, you need to guarantee that customers can connect with your business on a level that feels personal.

Deliver Value

Next, you should think about delivering value with your business. Delivering the right level of value will mean more than just selling products and services at the right prices. You need to go further than this and ensure that you always work to go the extra mile for your clients. Don’t forget, you can deliver value to clients in more ways than just a fair price for products and services. For instance, you might want to think about providing more content. Valuable content that is targeted and provides real benefits will always be appreciated by your customer base.

Provide Fantastic Levels Of Service

Businesses these days will live and die based on the reviews that they receive from customers online. Research shows that 80% of customers will check online reviews before they commit to the purchase of a product or a service. If you think this is better for brick and mortar companies, then you’re mistaken. Customers these days know how to access reviews and are often unwilling to put their faith in a business that is untrusted.

We hope this helps you understand some of the key options that you can explore to guarantee that your business does stand out from the crowd. If you take the right steps here, then you’ll have no trouble ensuring that you do expand the reach of your business and grow your company in great directions.

Protecting Your Growing Business Without Breaking The Bank

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Once you’ve started a business, you have to think about protecting it. This could take multiple forms. The following contributed post is entitled, Protecting Your Growing Business Without Breaking The Bank.

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Your business should be one of your top priorities, and one of the things that you care the most about. If this is the case, then you are going to want to do whatever you can in order to protect it, right? But sometimes we get sidetracked and we don’t always put in the amount of effort that we would like to. Instead of allowing this to happen, you need to focus on the things that matter, and one of these is protecting your business. However, you need to do this without breaking the bank. In this article, we’re going to be looking at how you can do this, so keep reading down below if you would like to find out more.

NDA’s

First, you’re going to need to look at non disclosure agreements when people join your business. This is the best way to ensure that the information is going to be kept inside the confines of those who are supposed to have access to it. If anyone breaks their NDA, they will be answering to the legal system and that’s not something that anyone really wants. As such, you should make sure that everyone signs one before they are allowed to work with your business.

Security

Another thing that you have got to be thinking about is the security of your business online. Now, the problem with this is that to build a security team and build the necessary systems to protect your business is going to cost you a lot of money. It’s for this reason that you should look at a service like https://www.sapphire.net/mss/soc/ instead. A service like this is able to handle all of your needs in this department, ensuring that you are getting the very best protection online without having to empty your business bank account to do so. You get the service that you need at a price you love, and you don’t have to go through the tedious hiring process to hire new people for the job!

Insurance Policies

You’re also going to need all of the correct insurance policies. We recommend that you speak to an insurance broker and see what they have to say about what policies you need. You don’t want to get too many that you’re never going to need, but it’s also better to have something and not need it than the other way around. Speak to the broker though, and see what they think. They will be able to give you advice on the best policies that you are going to need, and you can find out more about business insurance on a site like https://www.hiscox.com/blog.

We hope that you have found this article helpful, and now see some of the things that you need to do in order to protect your business without breaking the bank. There are so many threats out there that you need to ensure you are covering all of your bases as much as you can. We wish you the very best of luck, and hope that this advice helps you to achieve your goal.

3 Things Every Entrepreneur Needs To Be Successful

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Being an entrepreneur is not easy and there are several pitfalls. A couple of keys can ensure that you’ll be among the successful few. The following contributed post is entitled, 3 Things Every Entrepreneur Needs To Be Successful.

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Being an entrepreneur is a demanding task. Having to juggle an array of responsibilities and managing a heavy workload is not something everyone can achieve. While many people aspire to become entrepreneurs and run a string of businesses, not everyone has what it takes to do this successfully.

Becoming a successful entrepreneur requires a wide range of skills. To be a successful entrepreneur, you need tenacity, the ability to problem solve, and the desire to work hard. But, as well as dedicating your time to your business and being incredibly productive, there are several other factors you need to make your business a success. Here are the things every entrepreneur needs to be successful:

1. Reliable Technology

Almost every modern business is dependent on technology. Without technology, many business functions would likely be impossible to complete. Technology helps companies work quickly and accurately to maintain high standards and keep everything running efficiently. Without the right technology to support everyday business functions, running your company at full capacity is almost impossible. So, ensuring your technology is reliable and up to the task of supporting your business is essential.

Using a company such as computer repair by casey will ensure you have help on hand when problems strike with your business computers. Having a reliable company that can fix your computers quickly is a must to ensure your business does not get hit by extended downtime when a problem strikes.

2. Robust Accounting System

A robust accounting system is essential for every entrepreneur. Failing to keep up with accounts and not managing cash flow effectively can cause serious problems. When accounting systems are not updated regularly, keeping track of the business’s finances can quickly become a significant issue. Not knowing how much money you are owed, and becoming confused about which payments you have received and which you have not can be a recipe for disaster.

Cash flow issues, especially those caused by poor accounts receivables management, are often the reason behind businesses closing. When you are constantly waiting for outstanding payments to be received, it becomes impossible to pay your debts, which can cause your business to make late payments. So, understanding your company’s financial position at every stage is essential to prevent it from running into cash flow issues.

3. High-Quality Products

Whatever industry you operate in, it is always essential to deliver the highest quality products possible. Producing low-quality products that take little time and expense to manufacture may provide you with increased profits in the short term. However, if you plan to take a long-term approach to your business, you need to ensure your products deliver on quality. While low-quality products may be fast to produce and provide a high-profit margin, they will damage your reputation in the long term, and the profits they deliver are likely to be short-lived. Consumers can quickly spot a badly-made product, so it won’t be long before you get demands for refunds and lots of complaints. So, producing quality products should always be your priority.

How to Become Your Most Productive Self to Better Your Business

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you’re thinking about starting a business or have already started one, one of your key considerations will be being your most productive self. The following contributed post is entitled, How to Become Your Most Productive Self to Better Your Business.

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Being self-employed can be a blessing and a curse. On the one hand, you are your own boss and can therefore come and go as you please. However, on the other hand, there is no one but yourself to motivate you, and consequently, it can be easy to fall into procrastination. Procrastination is dangerous, as it can lead to a vicious circle of stress and cause you problems further down the line. Procrastination can also come in many forms. This could be scrolling on your phone when you’re meant to be working or even doing household chores to avoid doing what you should be doing. In this post, you’ll hopefully find some tips that will aid you in becoming more productive.

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1. Carve out your day.

This technique is also known as time-blocking and is designed for focus. It works by your work expanding to the timeslot, instead of the individual squeezing in the task to fit somewhere in the day. The slot also guards against distraction, as 100% of your focus is directed towards a singular job. This technique tends to work the best if you are super-specific in what you are doing within each slot. Start each day by writing out the day’s hours and precisely putting down what you will be doing in each one. For example, you can be as specific as “meeting with Baumgartner Law Office” at 4.25 and at 4:45, you are replying to emails until 5:15. The secret to this is to make sure you block out your time at the start of the day, as you are more likely to stick to the plan and are more clear about what needs to get done. This is especially useful for starting up a business, as it can often feel like you are juggling 100 things simultaneously but not getting enough done. By focusing entirely on a single task at a time, you can eliminate procrastination effectively as you don’t feel too overwhelmed. There are lots of different ways to time block, and you can find exactly what works best for you.

2. Block out any distractions.

There are so many things demanding your attention in this day and age. From phones and constant notifications to emails and more, it can be hard to block out a properly focus on anything. It can be worth maybe outsourcing some processes your business shouldn’t have to deal with so you can focus on the core parts of building your business. To block out anything else distracting you, you can download apps that stop you from checking your phone constantly whilst you are trying to work. If you are really struggling with procrastination, it can help to step away from your work for five minutes for some fresh air. This way, when you return, you are less likely to procrastinate after you have had a break. Make your time work for you!

Is Your Business Insurance Fit For Purpose

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A key component of your business is its insurance. Your business insurance can help you stay open and generating profit for a long time. The following contributed post is entitled, Is Your Business Insurance Fit For Purpose.

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There is a lot that needs to be considered when looking for insurance for your business. Depending on the nature of your company, there are going to be various policies that you may require. In this blog post, we are going to focus on some of the main ones, helping you to find a policy that is fit for purpose.

Insurance for your office
Office property insurance, also known as business owners insurance, is something that is widely considered a necessity for all businesses. It is vital to have all areas covered to ensure that you do not experience a massive loss in the case of an unpredictable event or circumstance at your office. If you don’t have one of these policies already then you certainly need to look into getting one.

Office insurance will cover you, your employees, the building, the equipment and more. Therefore, it is certainly worth its weight in gold. Moreover, policies such as this one are pivotal to giving you peace of mind. You know what if something happens which is out of your control – you won’t lose everything.

Nevertheless, finding the right policy for your business can be a very difficult, complex and frustrating process. After all, there are so many different policies available. Obviously, in one sense, this is great because it means that there is a lot of choice. However, for most people, it simply confuses them as they don’t know what to go for. The best thing to do is to make a list of the aspects that you need to be covered by your policy. These are your requirements and you will not go for an insurance policy if these are not covered.

Protecting yourself if something happens to a key person
This is one area of insurance that a lot of businesses have a tendency to overlook. However, have you ever wondered what would happen if one of your key owners or employees fell ill? It would have a serious impact on your company, right? Well, there is insurance in place to assist with this, and it is something that we certainly recommend considering carefully.

When looking for this type of insurance, you need to carefully consider the key person disability risk to determine what level of cover is going to be the most suitable for you. The policy will protect you from the monetary loss that you would experience if a key employee, business owner, or executive was to experience a disabling illness, injury, or accident. You will receive a cash benefit that is designed to help you through this difficult period. This can cover the likes of keeping your business viable, any overtime pay you need to cover staff working longer hours, and the cost of training and hiring a replacement.

Advice for all business policies
It is crucial that you read everything in the policy. This sounds like an obvious point but it is something that a lot of people overlook. It’s understandable; after reading through five different policies you may want to skip a couple of lines. But don’t do it – you may end up regretting it.

When searching for a policy it is important to look around on different websites and compare different deals. You can even use a price comparison website if you find it easier. This is good because it will give you a basic understanding of the price options available, and it will also help you narrow down your search in order to find the best deals and make the best savings. You should also look at ways to secure your premises, as this can then result in your premiums being lowered as well.

In addition to finding the best-priced policy that covers all the aspects you require, it is also highly important that the company you buy the policy from is credible and has a good reputation. In order to decipher whether this is the case, you should type the name of the company in a Google search box and then go to the relevant comment forums. If people have been dissatisfied with the service that they have received then they will be more than happy to express them and to warn people from using the insurance company in question. Nevertheless, remember to use the comments as a whole – you want a general overview. If there are 60 good comments and one bad one, don’t acknowledge the negative review as it is likely to be a one-off.

Making The Right Decisions For Your Business Start-up

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Businesses have different stages. There different considerations during the “start-up” phase versus when your business is further along. The following contributed post is entitled, Making The Right Decisions For Your Business Start-up.

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If you’re like most people and dreaming of starting up your own business, it’s important that you get things right from the very start. Of course, they’ll never be perfect, as that requires experience, but you can’t afford to make huge mistakes right out of the gate.

If your business is going to see a smooth start, you need to properly evaluate what’s right for you, and what would put your business in the best position. What could improve your chances of success, and what might hinder you?

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Your location

The location of your business will play a huge role in your ability to bring in customers. If you set up in an area where it’s difficult to find people who are interested in what you’re selling, you can only rely on your reputation. If you don’t yet have a reputation, then it’s going to hinder your ability to make the sales necessary. You want to be in plain view of your customers, not hidden away somewhere out of sight.

The kind of building you pick is also important. A lot of businesses at the moment are opting in to set up industrial steel buildings. There are a lot of benefits to the different materials used for a building, and it would depend on what your business specializes in. if you’re not in need of a huge amount of space, you could choose something smaller and cheaper.

Start-up capital

The amount of money that your business has to start with is going to determine what you’re capable of from the point of opening. The supply you can stock, the marketing you can afford, and the equipment and location you can pick for your building. If you haven’t got the money but you’re confident that your idea for the business is promising, you might be interested in approaching an investor. Sure, they would like to see a return on their investment, but if the investment is going to mean the difference between failure and success, it’s a benefit to your business.

Establishing online presence

Something you should be doing as soon as possible is taking advantage of all of the free resources that are available to you. Luckily, businesses have been able to use social media for years to promote their business and gain a following. Businesses with an online presence have an easier time finding customers, as it’s a great way for them to advertise themselves. Even small businesses that don’t distribute their businesses through online sales can use it to make themselves more known to the public.

Product evaluation

Your product matters the most out of everything, and even if you’re confident in it yourself, you should still get some more opinions. There are a lot of businesses that start on the idea that their product is going to be the next trend, only to fail because they misjudged the popularity of what they were selling. Getting second opinions on your product can help to further develop a more promising item to sell instead.

4 Processes Your Business Does Not Need To Handle

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. No matter what business you’re running, it’s import understand what processes you need to take care of in house versus those which can be done by some other entity. The following contributed post is entitled, 4 Processes Your Business Does Not Need To Handle.

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Running a small business can have your hands full at all times, and you don’t always need to take care of everything yourself. Just because your team isn’t big enough to handle all that needs to be done, doesn’t mean you need to take that responsibility on yourself. You can entrust a lot of your work to other companies for a fee, and find that it’s cheaper than having your employees doing it and that you have a lot more time to focus on things that are more important.

Outsourcing is something that many businesses take advantage of, and it’s the logical solution when it comes to growth. If you were to start delivering your products over a broader area, would you invest in your own fleet of delivery vehicles? It’s impractical and much cheaper to entrust that to another business entirely.

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Recruitment

Looking for new employees can take a long time, and that’s time you could be spending working on something else. The whole process can be stressful, especially if you’re going to approve applications and be present for the interview process. You don’t have to do that, and there are plenty of recruitment companies out there that can work with you. They can find applicants that are a good fit for your job, all you need to do is communicate with them on your own needs.

Distribution

If your business is small and struggling to gain an audience in your local area, a logical answer would be to try and broaden your consumer base. To do this, you would have to be able to deliver your products, and when your store is online; finding those customers is no problem at all. The only issue is, a new fleet to deliver your products would be incredibly expensive. Looking into a freight forwarding company to help you take care of that can save you a lot of money, and it’s a load off of your mind.

Manufacture

Most retail businesses don’t manufacture all of the supplies that they sell, and they’re usually taken care of by the supplier. It’s impractical to manufacture everything yourself when a business that’s well-equipped could mass-produce what you’re aiming to sell. To be equipped enough to meet demands would take years of preparation and a lot of investment. Your business doesn’t need to be in charge of this, and there are many manufacturers you could work with.

Marketing

Marketing is something that requires a lot of experience if you want to get it right. Connecting with your audience is challenging, and getting the message right is going to take some experimenting. It’s expensive, and you could save yourself a lot of money and resources if you were to leave it to a marketing firm. They have the experience, the tools, and the people to help your business gain the recognition it needs, and not only is it good for your own time; but you’re more likely to see a positive ROI if you’re no marketing expert.