Never overlook the importance of marketing. No matter how good your products or services are, people need to hear about them and marketing is the best way to spread the word and increase sales.

Word of mouth and community are great ways to build buzz and business owners love it because for the most part, it's free. But in reality, building a customer base requires some more upfront investment.

Fixed budgets:

A new business may have to be more careful with their money, the option of having a fixed budget might be better. In your first year, you may simply have to find an amount that you feel you can afford and stick to it. It is also essential to have a marketing plan.

Percentage of revenue:

Most small businesses allocate a percentage of their total revenue to marketing. One of the main advantages of this percentage approach is that the budget is not fixed. It will grow along with revenue, increasing your marketing presence as your business expands.