You’ve cleared your desk, packed your office belongings into one of those brown boxes exclusively reserved for people quitting their job, and hit the highway to Self-Employment-Ville. But your newfound independence from the vagaries of corporate life won’t be easy – you’re going to need to budget.
Indeed, if you’re planning to rake in cash with a startup business, balancing the books is essential.
Thousands of enterprises fail every year because they’ve failed to spend wisely. And in the process of your company going bust, people will lose their jobs and your reputation will be in tatters.
You don’t want your lone venture to collapse – so what can you do to keep your cash flow at its peak?
Post for pennies
Whether you’re a bustling online business or a local retail enterprise, you’re going to have to send heavy parcels to clients. And, as globalization continues to widen the net of potential customers, the cost of international delivery is outweighed by the benefits.
That doesn’t mean you’ve got to shell out a fortune for every delivery. An international courier with competitive rates can be found via a delivery price comparison site.
Delivery site Transglobal Express comes recommended by us, providing a fantastic range of prices from various reputable companies. If you’re searching for bulk deliveries, check their site and see what bargains you can enjoy.
Even if you’re not immediately in need of a major international delivery, having the information in your back pocket will keep your finances in good stead.
Corner your market
Marketing costs an arm and a leg, and with good reason – it’s the middleman luring customers to companies. Without effective advertising and PR, your business will sink like a stone that’s been lathered in concrete.
Forking out for a marketing agency when you’re only just gaining a foothold in the marketplace might seem like splashing the cash too soon, but only if you’re certain about your target market.
Hire an agency on a short-term contract to help you define your core demographic and initiate your strategy. If you then feel like you can manage without them, wait out your contract and learn all you can from their expertise.
The price is right
Pricing your services is vital, and not only because it directly affects your potential profits. You’ll have to ask yourself a number of questions, including:
- Can my clients afford my product?
- Will a lower price negatively impact my profits?
- Does a high price increase the exclusivity of my product, or make my company look ham-fisted?
Consult a financial advisor if you’re not sure how to price your product. They’ll be happy to help (for a small fee, of course).
Stay optimized online
Internet optimization is a necessity if you want to stay flush. Without a major internet presence, you’ll collapse into nonentity status in no time.
Various media agencies can be contacted to provide search engine optimization services, but courses also exist online to help you do it yourself.
This is all just the tip of the iceberg in terms of helping your company get successful on the cheap. Got any more suggestions? Then let us know in the comments below!