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What our members have to say...
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"Things are looking up for me and my business. I have an investment firm from France that is interested in my film "The Desperate Ones". and I am making arrangements to meet with the investors in Hollywood soon. I am still keeping my fingers cross and keeping hope alive. I feel great about this investment firm."
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Francis Xavier - www.metpix.com |
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4 Ways to Decrease your Startup Costs
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When you’re about to open the doors of your business startup, either virtual or real, you have a tough balancing act to achieve. On one hand, you have to control your costs because money isn’t often plentiful and the source of that money is often your family’s reserves. On the other hand, there’s a big difference between low cost and value. If you don’t spend enough, you will get very little mileage out of the investment but you also don’t have the money to hire the highest price consultants. It’s up to you to find the perfect balance. Here are a few ways to help:
Don’t Rush
Your business startup isn’t making any money while you’re in the planning stages but it just might make more money from the beginning if you take it slow. Shop around and find the best prices on your materials. Take the time to make contact with not just the lowest level sales rep but also the person above them. Spend a lot of time doing research to find the best location for your business and if it’s for sale or rent, move slowly to get the best rate.
Don’t Overpay
Everybody has experienced the wide eyed euphoria that comes from seeing something in their favorite store and instead of waiting for a sale or shopping for a better price, they make the impulse buy. Purcahsing for your business must be different. There is almost always a better price if you take the time to search for it. Your business startup needs to save money and as the lead purchasing agent for the company, you have to form the habit of not buying right now.
Communications
Gone are the days of the landline, at least if you’re a small business. In fact, the cell phone is no longer the only way to conduct business either. Services like VOIP (Voice Over IP) allow you to communicate in real time over the internet at very little cost. Skype, recently acquired by Microsoft, is one the most popular platforms for internet based communications. Your business doesn’t need a sophisticated, high price phone system at the beginning.
Partner Up
Finally, other businesses are looking to cut costs just as you are. Contact businesses who may benefit from your products or services and offer to trade. By setting up a partner relationship, both you and your partner business can cut costs significantly.
Bottom Line
In the early stages, your focus is largely on the larger picture items of getting your business off the ground but don’t let that take you away from finding the most cost effective ways to open your doors.
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