For a while now, I’ve been playing around with an idea for a business that I think I could make a go of but I’m just not sure that I have the time or the energy to actually do it. I’ve given it some serious thought though and done a fair amount of research so I thought you might like to hear some of the tips I have for something starting a business…
First of all, starting a business doesn’t have to be the expensive chore that a lot of people make it out to be. Obviously, some money is needed for the initial start-up costs, but there are a lot of corners that you can cut to save on costs without sacrificing on the efficiency of your business plan.
It’s also worth noting that being frugal isn’t the same as being cheap. As I say all of the time, to me being frugal simply means being less wasteful and more resourceful, which, in the context of starting a business, means thinking carefully about what to spend money that will bring long-term value.
This is especially important when taking into consideration all the various expenses that ride pillion when starting a business – from legal fees, council taxes, all the way to delivery costs. Below we’ll look at some of the steps you can take to be frugal when starting a business.
Create a quality website
When it comes to a modern business, a website is one thing that you can’t skimp on when it comes to quality. It is your digital billboard and shopfront and can make or break a conversion for both first time and frequent visitors. Not only that, but your website is the point of contact between you and your customers, and is also essential for ranking on search engines and standing out from countless other websites on the internet.
For these reasons it has to look good, but isn’t necessarily as difficult as you might think – you only need to look at this site to see that you don’t need expertise or money to get a site that you like the look of (I like it haha) and that does what you need it to do. There are a number of web hosting companies that can help you build a quality website to get your business out there and ready to start getting yourself known.
Don’t waste money on fancy furniture
Need a physical office space? If you do, don’t waste money decking it out with brand new designer furniture. Keep the expenses to a minimum by buying cheap, practical and functional desks and chairs that will last a while. Check eBay and Gumtree for second hand deals or scour local car boot sales for bargains. If aesthetics are important to you and you’d like to foster the most positive workspace possible, considering frugal additions such as plants and lighting that can liven up a space cheaply and efficiently. I’m planning on a garden office / Summerhouse for my office space because I want to keep my work and home life separate!
Use social media to advertise
When starting a business, getting your name out there and creating awareness about your brand is of the utmost importance. The top social media platforms allow you to create an online presence for free, and should be something that every new business owner pursues to connect directly with customers. The organic reach afforded by social media, however, can be slightly limited at first. But tiered advertising plans allow you to budget for and plan campaigns that can efficiently and effectively expose your social media posts to a number of different individuals according to how much money you’re willing to spend on marketing.
Build a community
You want people to come back time and time again and to feel loyal to you and your brand so definitely try and inject some of your own character into your online persona. Having a blog alongside your business is a great way of doing this.
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