If you’re an aspiring entrepreneur with a great idea, but you’re avoiding taking the plunge and starting your dream business because you’re worried about the financial side of things, don’t despair! It has never been easier to start up a business on a shoestring, especially if your new venture will be internet based.
Here are some things to help you start your dream business right now, no matter how much, or little cash you have available:
Securing finance from investors or the bank is always great, but you shouldn’t wait until you have it to start pursuing your dream, and you shouldn’t give up if you can’t get it.
Crowdfunding is a modern, democratic way to raise money from the general public and if your idea is really good, there’s a real chance you will get the backing you need to get going.
Incorporate Your Business
Incorporating your business might seem like an unnecessary expense when you’re working on a shoestring budget, but it only costs around $100, and it will remove any liabilities from you personally, which is a great thing when you’re taking a risk.
Work from Home
I know you dream of working in a big fancy office in Manhattan, but for now, you should think smaller and work from your own home, if you have the space.
If you are thinking of starting a business where a separate premises is vital, check out armstrong steel homes as an affordable option for everything from garages to office space, but don’t wait until you have premises in place to start working on your business in any way you can, if you do that, you might never get started at all.
Do Your Own Accounting
When you’re a small business just starting out, it’s unlikely that your financial situation is going to be too complex, so instead of hiring an accountant, keep your own records, using low cost apps like QuickBooks to help you if necessary, bit don’t be tempted to neglect your record keeping completely – that way trouble lies.
If you can’t do it all yourself, but you can’t afford to hire any permanent staff, using virtual assistants and freelancers to take care of admin, design your website and create your marketing content is a great way to get what you need for much less.
Use Free Software
Most businesses need software to get them up and running and ensure that they are able to keep things moving along, but that doesn’t mean that you have to pay for expensive packages like Microsoft Office if you don’t have the budget.
There are countless free versions of every software package you could imagine, and there are also low-cost subscription options available, which will keep costs down and allow you to divert your budget to the really important, business-growing stuff.
Use Social Media Marketing
All new businesses need marketing if they are to be a success, but advertising can be expensive unless you use social media. If you create witty, intelligent and persuasive posts, you can advertise to large amounts of people for free, or if you take advantage of the paid options, for very little. It’s a great tool for new businesses!