September 13, 2011
An Update on Borrowing Money
My last post questioned what you would do if you had to borrow money to boost a marketing campaign. After listening to some advice I held off on radio promotion and opted to promote Edinburgh Taxi offline. Face to face marketing gets peoples attention, especially when you’re standing in a bright yellow t-shirt handing out plastic business cards. Yes, plastic – they don’t tear or bend, but they’re bloody expensive!
At this point I should mention I shelled out a lot to buy a card printer and consumables but people have been snapping the cards up so it has been a worthwhile task. The credit card was used but I know I can pay it back. No risk = no reward.
I’ve avoided posting about the success of my taxi partnerships as I’ve been focusing on making them work, but I’m happy to announce things are going well. If I could sum it up without getting into specifics, the money earned on a monthly basis from Edinburgh alone is in the low four figure range. This is a great achievement on a geo domain name and some offline marketing but it hasn’t been easy. Whatever I earn, and more, goes back into the business to generate more custom.
People often think that I sit behind a desk and the money rolls in; try saying that to me at 5am after standing all night in the cold with a couple of pr staff! I work day and night on my projects and radio advertising is still on the “to do” list but I’ll need to hammer the telephone number into people’s heads and get a few more thousand calls before I ask for that invoice!
Good luck with your pursuits,