When businesses start, marketing is a primary activity. Then you get busy, which of course is the whole point and marketing moves to the back burner.
You know you should be keeping on top of it. On the other hand, your business is in a pretty good place. So when the question of how much to budget for marketing comes up and you're pressed for time (because you're always pressed for time these days), the answer tends to be, "Let's keep doing what we're doing." Or maybe you take what you spent last quarter and add X percent.
This works. For a while. But as you row farther from shore, your original reference point gets smaller and smaller on the horizon. Eventually it disappears altogether.
“Is it a good time to upgrade my equipment?” Lots of business owners ask themselves—and maybe you—that question, but it’s often not the most helpful question to ask. The fact is, asking if it’s the right time to upgrade is like asking whether blue is the happiest color—it depends whom you ask. So a better question may be, “What will be the effect of an equipment upgrade?” Increased efficiency? New capabilities? Streamlined operations? All of the above? If you’re an equipment vendor, these benefits—and others like them—are what you’re really selling.