Building your start-up business is an exciting time, but there may be a lot of demands on your finances, and it can be easy to get swept up into spending more than you actually need to. Use the tips below to get your new business up and running without stretching your budget to the breaking point.
Build Your Own Website
If you’re starting out, save yourself some serious cash by building your own website; several cost-effective website builders are simple to use, affordable, produce professional-looking results, and will even host your site on their platform for free. Some builders allow you to easily add eCommerce options to your site so that you can start taking payments securely online.
Research your options carefully to ascertain the site builder that will most suit your business and your budget, and check the small print for how long you’ll be tied into a contract.
Choose an All-Inclusive Payroll Package
The mere thought of handling the payroll process may well give you a headache: but, if you’ve got staff on the books, it’s a necessity, and getting things wrong can have serious consequences. To ensure things run smoothly and negate the need to hire a professional HR member of staff or team, consider using a payroll and HR automated service as part of your business’ processes.
Deluxe is a popular choice for all-inclusive provision , read review here, that includes onboarding, streamlined payroll services, employment management, and the administration of benefits. Using a package like this can help you save time, money, and resources and will give you the peace of mind that comes from knowing that the entire process is being run compliantly.
Promote Your Business For Free
Social media provides you with a powerful tool to market your business for free: set up a professional online presence on Facebook and elsewhere, add photos of your products, for example, and ensure that your business page looks slick and is updated with new content regularly. Get the word out to friends, families, and potential new customers, and make sure any communication you send out features details of where to find your website and social media pages. LinkedIn is a good place to promote your business, too, and it will help you build a supportive business network.
You could also get in touch with the local press, who may run a story regarding the start-up of your business.
Just Pay for What You Need
When you’re starting out in business, every penny is important, and so save them by making sure you are only paying for exactly the things (or time) you need. If you’re only going to need the use of an office and office equipment for a few hours a week, then consider hiring fully-equipped office space on an hourly basis, booking each week for what you will require.
Similarly, if you’re not quite at a point to take on stuff, you could hire freelancers to work on an ad-hoc basis so that, again, you will only pay for the hours that you need.
Make the Most Of Free Package Tiers
There are many platforms and online tools offering help for everything from marketing to project management; many of these will feature several package options, typically a basic, free package, and then a few paid options that allow access to a greater number of features. While it can be easy to be persuaded to sign up for the all-whistles-and-bells top-tier choice, you may, in reality, only require the basic package, especially when your business is in the start-up stage. Many of the free tools and suites that these services offer are surprisingly comprehensive, providing your business with everything it needs to get up and running and grow. And, if you need to upgrade further on down the round, this option remains open to you.
Access Free Equipment
Equipment costs can quickly mount up and, when your business is brand new, there may be a significant amount of items to buy. To help avoid unwise or unnecessary purchases, sit down and write a list of everything that you need to get your business off the ground. Don’t worry at this point about what you might need in six months.
If you need a computer, laptop, or printer, first have a look at your local Freecycle board to see if the equipment you require is listed. Put out a general call to friends and family – many people have an outdated device tucked in a spare room or drawer that’s rarely used – who might be able to help you.
Look Into Funding
Now that we’ve covered some of the ways to avoid unwise spending, it’s also worth noting that there are several grants and funding opportunities for small businesses that are worth pursuing. Government grants and loans are regularly on offer, or you might want to consider setting up a Crowdfunding site to help get your idea off the ground. Tech startups, especially, may be able to secure funding from an angel investor, who will back the business in return for shares.
