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Ready Money Mortiboy: RICE, James, English novelist: b. Northampton, Sept. 26, 1843; d. Redhill, Surrey, April 26, 1882. He studied at Queen's College, Cambridge, without taking a degree, and in 1868 became editor and proprietor of Once a Week. He was called to the bar in 1871 and while waiting for clients he became London correspondent for the Toronto Globe. His first literary success was with the novel Ready Money Mortiboy (1872), written conjointly with Walter Besant.
GRESHAM'S LAW, gresh'amz, in economics, is usually stated as "bad money drives out good." The law stems from the fact that money has a value both as money and as a commodity in the open market. The former value is set arbitrarily by law and is relatively fixed; the latter is determined by supply and demand and varies from time to time, "Good money" has a higher value as a commodity than as money and will disappear from circulation.
Typically, you may spend from three to eight percent of your gross on advertising. Keep in mind that the commitment to spend the money over the entire year is much more important than the amount of money you allocate toward advertising. Nothing will waste money faster than to spend a large amount of money in the beginning of the campaign, and when results are not immediately forthcoming, to pull back and stop advertising.
Spend your money according to your plan. Make some adjustments during the year to fine tune your efforts, but keep at it for the rest of the year. You will be surprised how this commitment to results will pay off despite some temporary misgivings. |
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