Who does the crown fit?
Budget is the money-making language of Advertising, PR and Marketing agencies. Budget means the amount of money earmarked from a company’s margins that are committed into the hands of an agency to cover for a stipulated time, within which period the agency will deliver world-class advertising, pr or marketing services.
Here’s the simple math to reveal my use of budget.
I split 100% of my 5k per bag of snails net profit into 60/40. 40% kept as equity liquidity and 60% allotted into little fractions to cover everything that I mentioned in Part 1. So for a quick elaborate breakdown.
60% = 3k
N400 for marketing
N300 for pushing the envelope
N100 for airtime gift
N500 for club hypemen
N800 for lifestyle
N400 reputation building
N200 for benevolence
N300 for force majeure
Sounds small?
Using my N200 assigned for benevolence becomes 1k from 5 bags of one-time order. I do 4 cumulative orders a week, that’s 4k. I do 4 times a month, that’s 16k meant for benevolence.
Trust me, I went to the snails market on my best behaviour. I needed a clean environment to verify the integrity of my supply.
To do this meant incurring the wrath of the Tax collectors (council workers and of course our very agile area boys). The market women were never perturbed, they knew I had it covered. Soon as the tax collectors showed up, I had the money I could spend in rations from my monthly “benevolence” budget (16k) to keep them in their place for the time being. This got me a lot of “Twale”. I was on a budget.
Lunch and light refreshment for the market women on my bill were quite regular. They soon began to request small loans when they needed to upscale their stock whenever scarcity was envisaged.
To the lesson. As a small business owner, you shouldn’t be struggling and encircling around the same features that do not let your business take big strides. Practice how to budget and see how you’d easily achieve far more than you thought. One thing is for certain, the business will overcome the many shoddy results small businesses are known for, like the #logo they use.
