One of the biggest obstacles between you and running your own successful business is cash. Supplies, employees, and materials all cost money and as a small business owner these things can get expensive, fast. But what do you do when you have all these needs, and not enough capital?
You start small.
It can be scary to start and grow a business when you don’t have all the funds you think you need, but read on and I’ll explain how to start small in order to make big strides in your business.
1. Cut the fat
If your budget includes a new fancy desk lamp that has nothing to do with your product, get rid of it! The fancy office supplies and personalized stationery can come later. Only pay for the bare necessities; the items that you absolutely can’t operate your business without. This can include a $12 url, shipping materials (which you can get for free), and setting up a Paypal account.
2. Use the space that you already have
Don’t have enough money for an office? No problem! You can operate and grow your business from a place in your home. Clear off a countertop, make a space in your bedroom, or even clean out your garage.
One thing entrepreneurs are known for is their ingenuity, so put on your thinking cap and find ways to utilize what you already have to help your business grow.
3. Hire affordable help
One thing that’s as valuable as money is time. Small business owners can sometimes get burnt out running every aspect of their business alone but there will come a time where you’ll absolutely need help in order to grow. While hiring full time help is probably out of the question, try hiring someone part time, or even a paid intern.
If that’s still too pricey don’t worry. With all the free and affordable resources that the internet has to offer, it’s easy to get things done without breaking the bank
Remember time is valuable so don’t waste it saving and waiting. Start with what you have and begin building your business from there. The longer you wait to begin, the longer the path to success. So strap up those boots and start owning your business today!
What do you think? How do you save money while running your small business?
Want to start your own boutique but don’t know where to start? You know I’ve got you covered! My e-book ‘Jump Into Online Sales’ walks you through the process of creating your very own online shop. Check it out!