A friend was reviewing the budget for his company with an eye to minimizing expenses. And I agree that it is always good to review the budget with this mindset.
Along the way he asked me what I thought about his marketing expense (he is a friend, not a client, so he knew my answer would be objective...).
He pondered aloud, "Should I cut my marketing expense this year?" Here was my response: Henry Ford said it best:
“A man who stops advertising to save money is like a man who stops a clock to save time.”
Well said Mr. Ford.
I wonder if this mindset, which company Founder Henry Ford built into the culture of his company, is one of the reasons why Ford is the only major American car company that did not need, and would not accept, a financial bail-out from the United States Government?
What do you think?