How to Save Money Starting a Business

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By Limowreck
User-Submitted Article

Article Rating: (10 Ratings)

It's all about the bottom line.

New enterprises are often closed down before they really get started. Uncontrolled start-up costs can put an end to your big dreams. Save money and give your new business a fighting chance.

Difficulty: Moderately Easy

Instructions

Step 1

DO IT YOURSELF

Many start-up businesses spend big money on items and services they can often do on their own. For instance, stationary, letterhead, web design, and even business cards are all do-it-yourself projects that can look just as professional, but save you thousands of dollars. Keep your business lean and strong. Before you pay for the services of another company, make sure you can't get the job done yourself.
Step 2

BARTER

When you have a need that you absolutely cannot fulfill on your own, you'll have no choice but to turn to a pro. However, that doesn't mean it has to cost you big money. Save money by offering a barter or partial barter with the professional whose services you require. If they are not interested in what you have to offer, try another professional. Bartering is a tradition in most areas of business, even for attorneys.
Step 3

OPEN SOURCE SOFTWARE

Business software is outrageously expensive, but there is an option. Open source computer software is free, available all over the internet, and often performs better than big label programs. Even if you are purchasing new computers with the software already installed, the hidden cost of software is apparent in the price of the machine. Instead of automatically running for a copy of Microsoft Office, consider Open Office. Open Office has many features Microsoft Office does not, and IT'S FREE. This is just one example of free software available to small businesses. Much more can be found with a simple Google search.
Step 4

NETWORK MORE/ADVERTISE LESS

Notice that I don't recommend you STOP advertising. However, there are many valuable customers to be gained through networking. To network, you can join a club, frequent a bar full of potential customers, join the local rotary club, take up golf, or become a volunteer. Networking puts your name out there in a positive light. Making friends with one person can lead to dozens of referrals. Having friends in high places can lead to gobs and gobs of business income.
Step 5

OUTSOURCING

You may not need a full-time secretary or accountant, but you might need a little of both. Outsourcing is a gre

Comments

showpup said

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on 7/22/2008 Bartering is very important. I even started a list on yahoo groups called farmers barter with this in mind. It started out for farmers but as long as it's family friendly, it's fair game to barter with! :) 5 stars