“If you’re saying ‘I don’t know. Maybe. What do you think?’ that’s not helping. You have to be able to say what you believe in an unaggressive and uncontentious way. You have to believe it, then negotiate as if it were so. Whereas if you do not believe yourself. You cannot help.”
- Famed critic Robert Gottlieb’s theory of negotiation
Your advertising budget should amount to 3 – 5% of your annual revenues, although you’ll need to consider adjusting up or down depending on the extent and spending levels of your competition. This budget should cover any community sponsorships you may provide, as well as your advertising in newspapers, magazines, Yellow Pages, newsletters, on radio and television, by direct mail, and any other promotional avenues you choose.
Source: US Small Business Association