Wednesday, June 15, 2016

Budget-Friendly Startup Solutions for the First-Time Entrepreneur

First Time Entrepreneur working remotely
When starting a business, you can work remotely as long as possible to save money.

Many startups fail before they even begin because the entrepreneur didn't stretch his or her budget and ran out of money. It's vital for the health of the startup that you do your research and find budget-friendly ways to save cash. Below are some ideas to get you started.

Start Part-Time

Instead of quitting your job and jumping into this venture with both feet, consider working nights and weekends on your dream. Often, owners of a startup won't be able to take a salary for the first few months, so you'll need a way to keep yourself afloat. You could also consider working part-time while starting your business full-time. Decide what works for your budget.

Bartering System

Don't pay cash for services or products until you see if you can work out a barter system with other new businesses in the area. You could also work together with them on marketing to each other's customers too. Social media groups or forums are a great way to find others who are looking for barter opportunities. If you sell jewelry, for example, see if you can trade a product for the services of a website designer instead of paying cash.

Don't Lease an Office

An office is an expense that isn't really needed unless you are welcoming customers and clients for meetings. It's possibly to work entirely from a home office in the first year or two of business. If you need office space occasionally, you can rent an office that is already furnished from a serviced office provider. There are also co-working spaces available in most cities where you can rent a desk in a space as needed.

Used Furniture

If you absolutely need an office or space for your business, consider used furniture and equipment. Used equipment and furniture is cheaper and can still be serviceable for your business. Check online classified ads on sites like Craigslist or Offerup where people list items for sale. You can pick up office desks and chairs as well as used faxes and copiers.

Budget-Friendly Appliances

Avoid investing in expensive equipment when your business is first starting out. Start first with budget-friendly appliances that will last for a long time. You don’t have to resort to used equipment, though; for example, if your startup is a restaurant, shop at a company like Budget Restaurant Supply. That will allow you to reinvest money into the business while still getting quality equipment to create your products.

In order to keep yourself on budget in your startup, make sure you are doing your research to find inexpensive ways to buy equipment or market your business. These tips will be a great start for getting your startup off on the right foot.

About the Author:

Dixie Somers is a freelance writer and blogger for business, home, and family niches. Dixie lives in Phoenix, Arizona, and is the proud mother of three beautiful girls and wife to a wonderful husband. Dixie obtained information for this piece from Budget Restaurant Supply.

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