#ad
It’s not easy to start a business. Many people begin ventures without having done adequate homework to ensure that the business will work. For those starting a new business, it can be important to keep costs low whilst you first start to grow. This way you can assess the viability of the business before investing more money.
Photo credit: Pixabay
Tips for Starting a New Business
Obviously, having a business will incur start-up costs but once you’ve got it off the ground a little extra investment can help boost it further. There are some great ways to keep costs down at the start these include:
Renting a Serviced Office
Instead of buying a property or getting tied up in long term leases, renting a serviced office like those at Click Offices London can offer a great and far less costly solution. They start from 3 to 12 month contracts and are ready to be used fully furnished from day 1. This way you can control the risk taken and if the business doesn’t seem to work then you haven’t lost too much.
Part-Time Staff
When you first open a business you don’t want to have more staff than you need. It isn’t hard to asses which times are busiest and make sure you are suitably staffed to meet all clients needs. Temps are expensive, you are better off employing individuals yourself. That doesn’t mean you can’t hire an agency to find them for you. There are numerous recruitment agencies that can help find a suitable candidate that meets your requirements.
Buy Refurbished Equipment
Buying new equipment like computers, printers, etc. can be a costly exercise. Where funds are low you could consider buying refurbished equipment as this is far less costly than if buying new. Companies like pureITRefurbished can help you do this and have plenty of equipment to choose from at a fraction of the cost. You could also consider leasing or renting equipment as this will further reduce start-up costs.
Embrace Digital Marketing
Marketing a business online is a great way to promote with minimal cost and is a strategy used by many companies. Build up a customer email list, encourage customer referrals, design a professional-looking website and build a social media presence on platforms used regularly by your customers. It is cheaper to do this inhouse, but, if the whole concept is foreign to you then there are digital marketing companies that can help take the workload.
Ditch the Landlines
Companies are foregoing setting up landlines in favour of VoIP services. Not only do they save money as they use the internet rather than phone lines, offer better reliability, easy installation and accessibility.
These are the main ways you can save on starting up a business although of course there are more that could be added.
What would you suggest to anyone opening a new business to help them save on costs?
Enjoyed this post?
Subscribe to Melanie’s Fab Finds to have posts delivered straight to your inbox. Emails will include recipes, reviews etc. and as a result, you will hear about my competitions first! Don’t worry I won’t spam you.
https://feedburner.google.com/fb/a/mailverify?uri=MelaniesFabFinds&loc=en_US
Watch our product reviews on YouTube:
https://www.youtube.com/channel/UC7N9LSm6HlbeVfliBZZRRBg
Disclaimer: All words and opinions are my own.
Discover more from Melanie's Fab Finds
Subscribe to get the latest posts sent to your email.
Those are some great and practcal tips that you have to consider when you are able to grow your business.
And don’t forget to enjoy every step of the way (good or bad)
It’s not always easy to enjoy when you are stressed and working long hours. I thin the enjoyment is more when the business is finally established and you reap the rewards.
Great advice for anyone starting a business, there really is so much to think about that you can forget some of the most important things
That’s very true. Some people overlook some vital areas especially if they haven’t planned out what they need to do.
thank you for all the tips. this is very informative and helpful at the same time, we are running a small freelance business but doesn’t have the capacity yet to rent a place. hopefully in the near future.
Sounds like an important time for you. I hope everything works out well and the business grows quickly.
These are great tips! Google Voice is an excellent alternative to a landline – it’s professional but is completely free!
That sounds like a useful tool. I’ve not used it myself. Good to hear it’s free too!!!
I know literally nothing about growing a business, so this has been really interesting to read and very informative. I particularly liked the tip of hiring part-time staff! Thanks for sharing!
Thanks Jade. I’m glad you found the post interesting. Having part-time staff is a great way for a business just starting out to save money.
Those are excellent tips that I may need to use soon. I will save your post. Thanks for sharing.
No problem Marjie. I’m so glad you found it useful.
Thanks for letting us know all this information. I definitely agree to you about “not easy to start business”. You have a great blog!
Thanks so much Gladys. It isn’t easy necessarily but persistence pays.
Digital marketing has really made it so easy for people to actually start businesses and have them flourish. That means, no one can really neglect the point of digital marketing if they want to do great. I’m still learning the same, especially social media.
Marketing has changed so much. I’ve seen companies that promote a considerable amount on social media grow considerably over the years.
Great tips here!! I think most businesses are not able to grow since they are unable to keep with the social media trends.Also most people don’t know how to manage part time staff and they land up burning useless money.
Staffing can be a tricky area. I’ve had staff myself over a few sites. If you get the right people it can make life so much easier.