Tips For Starting A New Business On A Budget
With the holiday season upon us I always end up talking about entrepreneurship and starting businesses with family at our gatherings. Sometimes starting a new business is scarier then running the business and I can only imagine the companies that haven’t started because of the fear of getting started.
- Avoid expensive rent – Use your garage or spare bedroom
- Delay hiring employees – If necessary hire remote workers
- Embrace social media – Save money on advertising and use social media
- Create your own website – I’m not sure about this one, if you have a knack for this kind of thing then go ahead, if not spend some money on it. One thing to consider is using a blog template instead of a traditional website if you go the DIY route
- Take the law into your own hands – It’s easy to incorporate a business (at least in California), just make sure you obey the laws and take advice for your state in particular, not for the next state over
- Handle your own finances – There are so many free online options for this kind of thing and if you have to do payroll or more complex financing there are inexpensive web based services
- Sell products online – Depending on what your company does this is a great way to gage interest in products and variations of each product
- Take advantage of networking opportunities – I recently read to never turn down networking opportunities, I’m trying to live that now but it seems like sound advice
A few of more suggestions are:
- First and foremost – Get a business number to keep your work and personal life separate. Obviously we recommend Phone.com
- Use the Phone.com PC Communicator for your empoyees. It will work on their computer so you don’t have to buy them a desktop phone.
- If you buy computers for employees buy used
- By supplies for the entire office not for each desk, not everyone will ever need to use the 1 office stapler at once
- A great suggestion I read from Jason Calacanis a few years back is to buy a cheap desk (for example a 6ft table or 2) and spend a little more on a chair.
Starting a small business is a process and not an overnight endeavour. It will take a lot of work to get things going but Phone.com would be happy to be a partner in your business and serve many of your communication needs.