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Starting a business on a shoestring budget

Starting a business on a shoestring budget

If you are a solopreneur in the making, you will need to watch your money and get the best return on investment. You might have limited funds and resources, and have to work from coffee shops of your spare room for a while, but that’s fine. As you grow your venture, you will be able to increase your budget. Until then, try these tips to kickstart your business even if you have a shoestring budget.

Take Advantage of Technology

There’s a business app for every task, you just have to find it. Instead of paying an accountant every month, you can keep on top of your finances using an app or cloud based software. You can see the snapshot of your finances all the time, and save time and money on your bookkeeping. You will also be able to create a lead list or implement some productivity tools that will get you to earn more per hour than you did before.

Automate Your Marketing

 

The most important thing you will have to do when starting a new business and launching your product or service is get the word out there. This doesn’t mean that you have to sit by the computer creating posts and blogging all day. If you start by building a sales funnel from the beginning, you will simply have to manage your site and tweak your campaigns, instead of trying to go out there and drag people in to become prospects.

Build Your Portfolio

When you launch your company, you will need social proof and a way to showcase your talent and your product’s benefits. It might be a good idea to work on a portfolio from the start and create a presentation to show your website visitors how you work and what you can achieve. There are also some third-party portfolio services available for freelancer.

Get Testimonials

Gaining your visitors’ trust will get you closer to closing the deal. You might decide to offer your services or products at a discount initially, so you can collect testimonials and display them on your website, your social media pages, and link to them on review sites. Once you have an established brand reputation, you are more likely to be able to convince people to buy from you.

Build Credibility

It is also important that you don’t look insignificant and too small to deal with. As an example, if you work from home, you might be able to get a virtual po box that will tell your visitors that you are a real, established business, not just a college kid trying to make some extra cash. You might also purchase dedicated phone lines and implement a chat service into your site, so you can appear legitimate.  

Starting up your business is full of challenges. If you would like to make the most out of the opportunity, you will have to put your money where your mouth is. Build your reputation and increase engagement through consistent brand messages, automating your communication.

 

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