You Always Get What You Pay For 100%!
THE BOTTOM LINE – Starting, growing and maintaining a business is going to cost you money. There is no way around it, even if you are operating your business out of your home. There are many business-related expenses that just about every business encounters such as: advertising, internet, computers, business cards, cell phones, printers etc.
If you are like most entrepreneurs, your goal is for your business to prosper, thrive and continually expand over time. As the business grows, you will encounter even more costs such as: staff, bookkeepers, legal team, licensing, higher rent for a larger space, marketing campaigns, more inventory, web designers etc.
When it comes to investing in yourself and your business, we strongly suggest avoiding cutting corners on the important things such as: website, staff, products, marketing, graphic designers etc.
Trust us, first impressions are everything! You have a very small window to capture your next client with an ad, a website, your business card, street sign or your blog. What are you telling your potential new client when your website doesn’t load, your staff member doesn’t know about the services or products you offer or you don’t have a way to capture their email with an effective mailing list system?
Here Are A Few Tips
- Rather than trading services with an acquaintance that used to do websites in the early 2000’s, hire someone who is up-to-date with what’s hot and exciting, with an SEO plan with all of the bells and whistles.
- Instead of just having a warm body, any warm body, answering your phone or manning your reception desk, hire someone that is knowledgeable about your business and has great people skills.
- Some people send out emails through their personal email providers such as Gmail and Yahoo. Invest in a newsletter provider such as Mailchimp. Did you know the Mailchimp service is free up until 2,000 subscribers? You can’t beat FREE! By the time you have 2,000 subscribers, you should be able to afford the next tier for your email provider.
- We know you can teach yourself to do just about anything right? If you add up your hourly salary (which you are missing out on as you teach yourself how to create an Instagram post) you could hire a graphic designer and chances are the professional’s graphics will look cleaner and capture more attention than yours.
Where Can You Cut Corners?
- Purchasing toiletries such as toilet paper, paper goods, cleaning supplies at big box stores where you buy in bulk can save you tons of money.
- Instead of hiring a cleaning company, come in early or stay late and do the cleaning yourself and invite friends to help.
- Brown Bag Lunches are huge money savers. How about investing in a Keurig? You’ll have your coffee fix but not pay the high prices at your favorite coffee house.
- Reviewing your numbers as to what products and services are bringing in business. Eliminate the services and products that are not selling or bringing in clients.
- Document what are the busiest times for your business and stay open only during those high traffic times.
We suggest that you know your budget limitations and not go outside of that budget. Let’s face it, some things must wait until you have the funds to invest in, like that fancy, new and updated software or online scheduling system. In the meantime, take a step back and take a look at how you and your company come across from the client’s point of view. Chances are you already know where you are being too frugal in your business. There’s nothing wrong with creating a Wish List for your business and by writing these goals down and before you know it, those goals will be within arm’s reach sooner than later.
Boss’maste’ ~ (The Boss Lady in me bows to the Boss Lady in you)
~ Laurie and Kelly ~
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