he marketing plan is important to your overall business plan. Investors will want to know that you have a goal for marketing your services. It is not enough to simply have a great product or service; you must also be able to reach your audience to let them know about you.

One of the first things to do is to identify your customers. If you define several types of customers, break them down into groups. This will enable you to market to each particular segment.

Describe how you want your target customers to perceive your business. What do you want them to focus in on? When you have done this, step back and do a reality check. Talk to some of your better customers and find out how they actually see you. Now you can devise a plan to help them think of your business the way you would like them to.

This plan can also assist you in making sure that everyone in the company is presenting the same message. Sending mixed signals to the clients can cause confusion and may result in lost sales.

What are your marketing goals? Spell these out and discuss strategies to accomplish them. Devise a timeline for meeting your goals.

Finally, plan a budget. Spending money on marketing is vital to the continuation and growth of your business. The budget will need to include:

• Production: design, paper, printing, envelopes, labels, postage, etc.
• Advertising: print (magazines and newspapers), flyers, broadcast (TV, radio), etc.
• Labor: in-house or out-sourced labor dedicated to the marketing of your business

Next issue: Creating a Financial Statement