It does if you do it right. I’m sure you have all heard the term “work smarter not harder” at some time in your life. The term makes sense but let’s face it. It just doesn’t always seem to work out that way does it. We have all had times when we come up with an idea that is a really good one. We figure out all the details, at least we think we have, and we move forward with the idea. Somewhere along the process however we find that we calculated incorrectly and some part of the plan is going to either take longer than we thought or is going to cost more than we figured and budgeted for. This sound familiar?
One way of overcoming these unexpected situations is to allow yourself a buffer in your initial calculations. In both the areas of time and money, you should always figure in at least a 10% (that’s 10% of your initial final figure) for a buffer. If it isn’t needed great but considering the economy these days and the way material costs keep taking a jump every time you turn around, at least you are covered.
The same principle should be applied to your marketing and advertising. What ever you figure the cost to be, add at least 10%. It’s kind of nice at the end of the year to find that you have a little extra money available for that special holiday push you may want to make.
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