Guest post by Hertz Car Sales
As the economy has slipped, typical day jobs are seeming far less secure than before. More and more people are finding themselves laid off, fired, or unable to secure work after graduating from school. As a result, people are turning to less traditional career paths, such as starting their own business.
Unfortunately, starting a business can be one of those ‘you have to have money to make money’ propositions. Many entrepreneurs find themselves taking incredible financial risk in order to start their businesses. Finding a way to start a business with less money can give you a lot of freedom in your business strategy. Fortunately, there are easy ways to save money as you start up. Here are three simple ones:
1) Start Solo. The idea that to have a proper business you need an office and a staff is completely outdated. These days, many successful businesses were started in a home office with only one or two people. Depending on the type of business, you may be able to be quite profitable with only a couple of employees and a virtual assistant. Don’t despise starting small. It can give you the chance to find out if your business idea has legs before you invest your life savings.
2) Buy Used. As a beginning business owner, it is very tempting to set yourself up with the best brand new equipment. A new computer, a new car, a new office furniture set, and so on will cost you incredible amounts of money. Yes, you can write it off, but if your business isn’t making money yet it’s still a losing proposition. You can write off used purchases too! This is the best money-saving strategy, especially for big ticket items like a vehicle. If you need a car for your business, a quality used car will do a lot more for you than spending major money on a new purchase.
3) Service Swap. Early in your business career, you will need a lot of expert help in many areas of your business. You may not be the best at building a website, for example, or setting up a company Facebook page. Rather than hiring experts for these needs, see if you can arrange a service or product swap. If you provide a service, this arrangement will give you valuable experience in return for free help. If you sell products, you will get feedback on quality as well as a chance to try your hand at customer service on a small scale. A service swap can be a great way to save money and gain experience as you start up.
These three ideas are quite simple, but they can make an enormous difference in the cost of starting up your business. A business saddled with a lot of debt often fails before it has a chance to make a profit. A lower cost start will give you momentum and flexibility to grow your business and experiment with new products and services. Good luck and have fun!
What are your ideas for saving money as a small business owner? Let us know in the comments!
Hertz Car Sales was founded in 1977 with the goal of building the best overall experience for buying affordable used cars for sale by owner. Hertz innovated used car sales by creating Hertz Rent2Buy®, the first car buying experience that lets you live with your purchase before you actually make it