Save Up While Running Your New Business
Starting up a business isn’t free unfortunately. You will have to spend money on what will feel like endless investments just to be able to say “I own a business”. While this can be a tough time, it should also be enjoyed because this is only the beginning. You are about to venture into a world that is growing and changing every day, while always managing to remain an exciting one.
If you’re looking for ways you can save up while going through the process – you’re in luck.
Negotiate with suppliers
Suppliers can mean anything from wholesalers, manufacturers, or distributors. Never just accept the first price you’re given because nine times out of ten, the supplier can be persuaded and already has their final price in mind, so always ask for a discount. It’s important to remember that suppliers want to stay in business just as much as you do, so if that means lowering the cost a little – so be it. Some even have deals ready to discuss with you. They vary depending on what you’re looking for, but some will give you a discount if you openly promote their company. Or take ten percent off if you pay for their service for a set amount of time, like a six or twelve-month contract.
Rent not buy
This can be in regards to many different things whether that be your office space, your car, or even your equipment. Sometimes you just have to accept the fact that you can’t afford to buy it – and that’s okay. You’d be surprised by how many businesses don’t actually own their gear; they just rent it. So if for example, you need a way of getting to and from a client when providing them with a service of yours, instead of stressing about what you’re going to turn up in, contact companies like Flex Fleet. They allow you to choose a luxury truck, rent it, drive it to and from your required destination, and then they even pick it up for you so you can just switch off after work. Plus, it’s affordable and won’t leave you with an empty bank.
Collaborate with sponsors for events
Engaging with your audience is the secret to success because they are all your potential buyers until you give them a good enough reason to spend their money with you. Organizing events is a brilliant way of doing this. A lot of small businesses don’t tend to throw these kind of events though because they’re extremely expensive to organize and put together. – This is where a sponsor comes in. Work alongside another business (but not a competitor!) and allow them to be in charge of the expenses, while you deal with the hosting. It works out to be a fair trade (hosting an event is by no means easy), and you will both benefit from the day.
As you can see it doesn’t have to be as difficult or expensive as you may have pictured it to be, you just need to get creative with your ideas.