Allocating funds when starting a business can make you quickly realize that your dollar doesn’t go all that far. Especially when you need to start from scratch and factor in costs such as finding a location, hiring employees, sourcing materials, etc.
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With little left over for a round of takeout coffees and doughnuts, the pressure to make your business work and drive income is essential from day one. But what if you were a little bit savvier with your funds? We’re not talking shortcuts or buying sub-standard stock or equipment. Far from it. It is about realising what exactly is essential for the day to running of your company and what, well isn’t.
So think logically and have a look at areas you can save money or at least avoid an initial upfront cost.
Outsourcing.
An entrepreneur’s best friend. Whether you are a solo outfit, small start-up, or even bigger business. Outsourcing is the way you can get more bang for your buck without having to rain or hire staff to do the role for you.
Click here to see how you can outsource for your marine projects by looking to an experienced company who knows exactly what you need. Or search online and ask others in your sector how they outsource and what works for them. The details will be different for each company who outsourced but as a guide check out the following ideas;
- HR
- Accounting
- Legal
- Call Handling
- Data
- Social Media
- Website design and maintenance.
Remote Working
As it stands, most of the modern world is currently working from home due to the COVID-19 pandemic. But this doesn’t need to be a temporary thing. Allowing your team to work remotely can not only save you on finding an office space and all the bills and utility payments this comes with. But, it allows you to source the best people for your company without the imitations that having a fixed location can bring. You can also benefit from more flexibility and increased focus from those working with you as your trust in them is rewarded.
Marketing
Every company needs a marketing budget. Getting your name out there in front of people is essential to help you imagine your goals and turn them into reality. How else are people expected to find you and know what you do?
The internet is your best friend when it comes to reaching more people faster than ever. Utilis social media, invest in SEO (search engine optimization) for your website, and do more with less money from your budget. We mention above about outsourcing – this is a great area to outsource to help you boost your visibility and hit those targets.
Complement this with more traditional methods. Tried and tested options that will give you more for your money include, branded uniforms, consistent branding across all promotions items/storefronts/online accounts, and even local community sponsorship. this will put your name at the heart of where you live and work.ettin
