Starting a new business is risky and expensive. That time between making the investment and when you’re making money is terrifying. It’s natural to want to cut costs anywhere you can before your business is generating revenue. But then, not spending the necessary money to create a good foundation for your business will slow its growth and possibly even suffocate any chance of success. You have to spend money to make money; it’s a classic example of the chicken and the egg scenario.
To help you overcome this dilemma, we have created a list of important ways that you should spend the money to give your new business a professional presentation to potential customers, and where you can save:
- Spend the money on a professional website.
The fact is, when a customer is looking to make a purchase, 81% of the time they will begin researching online. This means that your website is the very first impression that you can give 81% of your target market. We know that professional web design services might feel like a stiff expense before you’re making any money; but if your website is home-cooked by your cousin who knows a little bit about CSS and nothing about graphic design, your clientele is going move along to a more professional looking business. In fact, search engines that rank websites actually calculate how long an visitor stays on your website and if they click any of your links. If your website is unprofessional and users skim over it before finding another one, Google takes note and stops recommending it to its users.
- Spend the money on professional signage.
Obviously, the cheapest option to advertise your business is to create your own yard sign with poster board and markers. However, you may as well just write, “We cut corners and don’t care about quality!” on it. Spending a little extra money for custom business signs from a professional sign company really gives your business a professional look and feel.
Get creative with the signage; or example, custom made business decals can be inexpensive and can advertise your business on a variety of objects. You can put custom made business decals with your logo on any vehicles, windows, clothing, the sky’s the limit. You can even make custom made business decals that go on swag (such as water bottles and pens) to hand out at trade shows, so every visitor becomes a walking billboard.
We’ll throw this in for free: Anything that you attach your name to, whether it’s your custom made business decals mentioned above or the sign on your store front shop, make sure it is designed by a professional. Your customers can tell if you designed your logo yourself, even if it is printed on the highest quality material.
- Spend the time on professional communication.
This point actually cost you zero dollars. Once you’ve made connections with your target market, take the time to ensure every communication you present is professional. Double and triple check for spelling and grammar errors. By all means, never– and we mean never– use text lingo such as: “LOLz”, “YOLO”, “UR”, and the like. If you use emoticons in personal communications, shut that part of your brain off when you are wearing your professional hat. Having a professional attitude gives your business a professional look and feel and costs you nothing.
Spending You Can Avoid
A few costs your new business can save on include:
- Equipment investments. Investing in the network infrastructure to get yourself going costs thousands and can devour your startup capital. Instead, consider using cloud services that only requires a small monthly lease.
- Expensive credit card processing services. You have to take credit cards, but many services take a huge chunk out of your sales. Do your research and find one that charges a low percentage that you can swipe with a $15 reader that attaches to a smart device instead of paying a monthly rental fee.
- Phone service. Research free VOIP services such as Google Talk instead of paying expensive long distance and phone bills.
Do you have anything to contribute to our list? Please share in the comment section below!