THINKING BUSINESS
a blog by Chris Barrow

How Much?

Moving on from last Thursday’s pizza-slicing. This morning my 06:15 cab driver to Stockport asked me what I did for a living. Hearing that I’m involved in business development for dentists, he asked me whether dentists in this country made a good living? I replied that “some do, some don’t” depending on their level of business acumen. His next comment was interesting. “I suppose at the end of the day dentistry is like any other business – you need to do the marketing all the time to stay on top?” True enough. He then asked me how much I would advise him to invest in marketing when he opens his own business in 18 months…. “after all, I cannot drive a cab all of my life – it’s been 4 years now and I need to do something.” My answer (all plus VAT): Web site – £5,000. Optimisation – £250 pcm. Google advertising – £500 pcm Facebook advertising – £500 pcm Automated email marketing and e-commerce – £750 pcm. Print media – £500 pcm. Total: One payment of £5,000 plus £2,500 pcm = £35,000 in year one. “That’s good” he said “because I guessed at £30 – 40,000 in year one for my business and so I’m about right. I have been saving for this and will also borrow some money from my family.” I asked what business he was planning to get into? “I want to open a take-away food place.” It seems the cab driver planning a take-out service has gotten his head around digital marketing and the financial investment involved. I wish it was that easy with some of the dentists I talk to. “How much?” they exclaim when I share similar numbers – and then call an agency or consultant that tells them it will be cheaper.

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