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 Today's advice comes from Allison O'Neill, owner of children retail shop Bundle, via her interview with Entrepreneur: "Cash is still king. Nobody can argue that. I have other assets like mailing lists of thousands of people now that I've accumulated of my target market." O'Neill says that if you don't have an adequate budget for marketing, you should create a customer database and social media following. Another tactic would be to reach out to other businesses that offer similar products to your own and partner up with them to cross promote. For example, O'Neill has partnered with about a dozen businesses that cater to the children's market. She promotes their business through Bundle's own social media platform, such as writing blog posts that features them, or mentioning them through tweets. As a return favor, the other businesses do the same thing for Bundle. When you partner up, you can also offer discounts for each other's businesses in email blasts. "It's definitely gotten our name out there more," Want your business advice featured in Instant MBA? Submit your tips to tipoftheday@businessinsider.com. Be sure to include your name, your job title, and a photo of yourself in your email.
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