Showing posts with label Business Start-up. Show all posts
Showing posts with label Business Start-up. Show all posts

Friday, January 30, 2015

How to Save Money on Your Business Start-up

Small business owners know better than anyone that it will almost always take money to make money as expenses quickly begin to accumulate. Those that have recently set out to develop their own business start-up may just now be realizing how much capital these ventures require, but there is help out there. Anyone looking to make save money without cutting the wrong corners needs to keep these actionable tips in mind.

Save and Spend Your Money Wisely

When you are first starting a business, it can be very hard to bring any kind of revenue. This is to be expected when you first start a business as you are trying to create a customer base. Therefore you want to be careful how you spend and save your money. You don’t want to spend your money on unnecessary things as this is how many new businesses go under so quickly. They spend too much and bring in too little revenue. However, you do have to spend some money and you have to take some calculated risks. Therefore you don’t want to just horde all of your money either. If you can make smart investments with the money you make in the early stages of starting your business that will bring in more customers or clients, then you want to spend that money. If it is necessary, you may want to take out a business loan of look for investors willing to put money in your company in the beginning which will hopefully allow your business to grow.

Focus on Free or Affordable Advertising

It will often take a little more time from the owner or their employees, but small businesses will mostly likely need to forgo paid advertising in the beginning. Instead of going with radio, TV, or local newspaper spots, it is more efficient to begin building a powerful online presence with social media companies. Attaching social media accounts to the company's primary website will have the added benefit of making it more visible to search engine users. 

A Virtual Assistant

Virtual assistants are now highly-trained and can be found for businesses of any size. Some of the top virtual assistant companies now provide small business owners with tiered and industry-specific training for four weeks or longer. They will also do all of the legwork for hiring a new employees such as carrying out a background check, drug tests, the interview process, and even supplying the new virtual assistant with health insurance and other benefits. 

Streamline Your Payment Services

Figuring out how payment services are going to work is often one of the most confusing steps for new merchants and business owners. This is why it is important to figure out simple and streamlined solutions early on with options such as a mobile point-of-sale device. In addition to handheld devices, owners could also opt for programs such as auto-deposits for payroll or the use of smartphones to accept physical checks to cut back on CPA or banking expenses. Owners could also apply for an ACH Merchant Account.

Buy Secondhand Office Supplies

Unless the product is absolutely essential or going to be seen by clientele, no one should ever think twice about purchasing secondhand supplies for their start-up. Going out and purchasing new purpose-built machines or expensive software is impractical for most. By searching online or going through bidding sites, small business owners can find high quality office furniture, electronics, software, and anything else they will need at a fraction of the price.

Money is going to be tight for almost every new start-up, and this is why cutting back on expenses should be on the business owner's mind at all times during those first few months and years.

Wednesday, August 14, 2013

Small Business Ideas You Can Start at Home

Working in the corporate world isn’t easy but you do it anyway because it is fulfills a very basic need of us, which is to survive. We need money to raise our children, provide them with their needs and send them to school. We need it to finance the roof over our heads and feed our family. It’s a lot of hard work and by the time retirement rolls by, you’re more than ready to hang up your corporate hat. And then you’re faced with a new dilemma--empty nest syndrome. 

The first few weeks and maybe months of retirement are going to be all about leisure and travel. But once the novelty of being unemployed has worn off, you suddenly realized that the house is a little too quiet. With your grown children either married or away at college, you realize that you have very little to do. Even gardening and other hobbies are not enough to fill all your free hours. So you begin to think of a small business--nothing too stressful--something you enjoy and something you can start in the comfort of your own home. Here are some suggestions that you can take inspiration from. 

Home Daycare

Some parents love taking care of children that they take to caring for other children as well. If you fall under this category, you can opt to operate a home daycare center where you will care for kids whose parents are busy at work and unable to watch their kids during the day. What makes home daycare better than a commercial day care center is that you can set the limit to how many children you will look after and this small number will help you in making sure that every child’s need is met. Home daycare is also more reassuring for parents especially if they are your friends and they know that you can be trusted to take care of their beloved children.

Bake by Demand

Another lucrative small business that you can start at home is a mini bake shop where you only bake by demand or on an order basis. This will make a great venture especially if you love baking or if you find it therapeutic. You can start out with your friends until your clientele grows through word-of-mouth recommendations. Another great marketing strategy you can employ is to always bring a cake or any homemade dessert to a party or as a gift so that guests who love your baked concoctions will ask about who made them and place an order.

Consultancy Firm

If you have been in a particular industry for a long time, then you know your work inside and out. This experience would be beneficial for you especially if you decide to open a consultancy firm, where people can ask about starting a business similar to where you’ve been working at. Example, if you were in finance, you can advise people on how they can manage their money wisely and also on what would make fantastic investments. If you’re used to be in marketing, you can help small business owners to come up with effective strategies that would help market their products and services better.

If you are planning to make one of these small business ideas into a reality, make sure you get prepaid legal plans for whatever legal problems that may arise. Attorney fees are expensive but if you go for prepaid plans, it comes out cheaper through its monthly subscription fees. Another thing you should remember about starting your own small business is that if it’s something you love to do, then it doesn’t feel like work at all.

About the Author
Based in San Diego California, Tiffany Matthews is a professional writer with over 5 years of writing experience. She also blogs about travel, fashion, and anything under the sun at, a group blog that she shares with her good friends. In her free time, she likes to travel, read books, and watch movies. You can find her on Twitter as @TiffyCat8

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