EP 98: The Real Cost Of Marketing (For Architects)
by Jonathan DeCollibus on June 22, 2018
Having feast and famine costs you.
Worrying about where your next project is coming from costs you.”
Most architects struggle to get projects. They are grasping and worrying about when the next project will come in and where it will come from. Hence, their cash flow becomes inconsistent.
Today, we’ll talk about the real cost of marketing. This is something you need to know because this will empower you to run your business, be profitable, and help more people.
[1:35] Two Kinds of Thinking
Firms thinking small: Fear-based and self-centered thinking
Firms thinking big: Service-based and legacy-focused
Both will invest their time, energy, and resource but they differ on results. Guys with small thinking will have a small payoff while it’s the opposite for guys with big thinking. Because they are legacy focused, they have a strong belief they are the best, that the service they offer are of an extreme value and quality. Hence, they are comfortable in charging premium fees.
[8:02] Our Advice
Instead of controlling your margin, try to focus on making an impact and in creating a legacy.
[8:58] Real Cost of Not Marketing
Layoff key employees
You need to know your actual numbers to calculate how much you’re losing for not marketing. Our video will show you a sample computation which you can use as a guideline.
Thinking small is never rewarded while thinking big always pays off with high ROI. Marketing will cost you money but not marketing will cost you more.
It’s time for you to decide, are you going to think big or small?