Some where along the way I apparently lost track of how much money I was spending on my marketing campaigns. I forgot about the dollars and only focused on the number of mailers I wanted to send out. On average I was sending out about 750 letters per month which out paced my plan by about 250 per month.
It’s good to get out more mailers for sure, but by deviating from my plan it has handcuffed me a little bit now that we are at the end of the year. It also is drawing a little heat from the wifey, which is warranted The reason this is coming up is because in order to set my budget for next year I wanted to analyze how much and where I spent last years money.
$7000 is too much for me to handle as I need to be more around the $5000 range for my yearly budget. My partner and I are going to have some trimming to do at our meeting this Friday.
One big expense I didn’t include in this budget was all the fees I have to pay in order to be an active Real Estate Agent. That adds on another $1500, making my total spent almost $8,500!
We have to get smarter and more effective with our marketing in order to bring in better leads so I can make more money.