In my second of four columns for the Tennessean on bootstrapping, I look at how to think like a bootstrapper when developing a marketing plan for a new venture.
A local entrepreneur, Charles Hagood, co-founder of The Access Group and Healthcare Performance Partners, always tells my students that if he had just one dollar left to spend in his company he would spend it on marketing.
Even though money is tight for small businesses, getting the word out to potential customers is essential if the business is to grow and thrive. This leads to the second rule of bootstrapping a business — probably nothing is more important to a new business than marketing, so know how to connect effectively with your customers within your limited budget.