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Setting Up A Business? Here’s How To Do It Cheap.

April 18, 2016 by  
Filed under Money/Business, Weekly Columns

( Many people are turning to starting their own business these days. The truth is, with the economy being the way it is, now is a good time to do so. Running a business is one of those things that most people think they have in them. In fact, if you have an unique idea which you are passionate about, then that is all you really need. One of the reasons a lot of people end up not going for their dream is because of the financial side of things. It’s true – it can seem daunting, before you take those first steps, to spend money on such a venture. But the truth is, it doesn’t have to cost you as much as you might think. Most people hugely overestimate how much money you need to start up a business. As long as you are not planning on running an international corporation any time soon, you are fine. There are lots of steps you can take to keep things cheap. If that sounds like something you might be interested in, then let’s take a look at how to achieve it.

The People

One of any business’ main expenses is the people. While you will probably need to hire some staff, it might not be necessaryBusinessman and businesswoman reviewing paperwork to hire many. In fact, this is the one area in which business owners typically overspend. There is a certain logic to it, admittedly. They are planning for the growth that they hope will come. However, when you are setting up a business on the cheap, you don’t have the option to wait for growth. It is much more sensible to just hire the amount of people you currently need to get the ball rolling. If you need more staff in the future, by that point you will also have the capital to acquire them. Dream big, but start small.

The Workplace

It is essential that you make every effort to kit out the workplace as cheaply as possible. There are many tricks and tips you can follow to achieve just that. One major one is similar to what we spoke about regarding your employees. Too many business owners acquire a huge site to do business in, hoping to expand into it. However, in truth this is just throwing money away. For now, just get somewhere which suits your needs. As for stocking up the office, there are plenty of ways to do that cheap. Look into getting a used samsung phone system for your outbound call needs. For furniture, considering websites where you can ‘freecycle’ your goods. If you are clever about it, you can end up spending very little at all.

The Marketing

Marketing is essential to any business. It would be no use at all simply avoiding it altogether. However, that doesn’t mean that it needs to cost you a huge amount of money. When it comes to marketing your business on the cheap, your best friend really is the Internet. Social media is effectively a free-of-charge marketing tool at your disposal. No business owner should altogether ignore the power of social media. Similarly, it is very cheap to purchase your own domain name and set up a website. And let’s not forget how powerful word of mouth can be. Done right, that is all you really need to spread the word about your business.

Staff Writer; Paul Moore

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