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Focus on underpriced attention.

When you’re a small business, you don't have a lot of extra dollars to throw around. It’s not the same as marketing a big brand.

When I was growing Wine Library (my family’s small business) in my 20s, we didn’t have much money. We were doing $3 million in revenue, but had little money leftover after paying expenses - our marketing budget was really small.

I was able to explode it from $3 million to $60 million in revenue in a five year window by focusing on underpriced attention — at the time, that was Google AdWords and email marketing.

Today, Google AdWords and email marketing still work, but Instagram story ads and Facebook ads are underpriced. LinkedIn organic reach is unbelievably powerful, especially if you’re selling something to other businesses.

That’s why I tell small businesses to focus on social platforms over things like direct mail or radio ads. Not because direct mail and billboards are “dead”, but because other channels are a better deal.

And getting that “bang for your buck” is really important when you’re operating on a small budget.

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