May 1, 2015

How to Control Start-Up Business Expenses




When I began writing this entry, my first thought was to focus on small business owners only.  However, it occurred to me that these tools and tips could apply to not only home-based business owners but individuals as well.  Anytime an idea is transformed into a business concept and eventually into a real live business, one of the most important elements often overlooked in  the start-up phase are the expenses involved in bringing it to fruition.
 
A “learn-the-hard-way” approach is to begin by treating your idea as a side hustle. Why?  Because if you are not serious about being a business owner, you will avoid wasting time and lots of money.  If you are truly serious about running your own business then this approach will keep your expenses low while you work out the kinks and any uncertainty. 

The idea for my own business, My 24-Hour Office, a virtual business support service, came to me several years ago, when “virtual support services” and “virtual assistants” were merely a group of words.  Although launched under a very different name, I have always loved typing and creating documents so, it was only natural that I would start a "word processing service".  For advertising, I used my local paper and picked up my first “legal” client – a lawyer who lived in my area.  That one contact made me believe that anything was possible – that I could start a business and people would come running, line up at my door and rave about my great services.  In today’s competitive market, along with the Internet, social media and sometimes You Tube, that is no longer the case.  You must advertise, network, and by any means necessary, get the word out about the services your business offers and make sure that everyone knows about that “something” that sets you apart from the rest.  In addition, pay careful attention to your expenses along the way.  It is no fun being in the "red" before you've earned your first dollar.  To learn more about time- and money-saving tips to keep your expenses low, order a copy of our guide, “26 Ways to $ave Time and Money When Running a Home-Based Business”.  After you have applied a few of our tips, revisit this post to share your story with us.  Thanks for stopping by.

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