Saving on your Startup
We all know starting a business can be very expensive even if you’ve decided to work from home. Setting up a professional environment is essential to mentally motivate yourself and your employees. Here are some tips to keep costs down when first launching.
- Set-up a VOIP phone and fax line. I use Vonage and particularly like it. I don’t ever pay over $30 a month and have free nationwide long distance. You can also setup a soft phone through most providers. This allows you to make calls from your work line even if you’re traveling.
- Purchase used office furniture and supplies. One of my mandates when first launching, I was absolutely not allowed to buy anything new, well except paper. There are a ton of stores throughout the city that sell second-hand office furniture. I was lucky enough to find everything I needed with little effort and saved a ton. Another great benefit of purchasing secondhand; it’s better for the environment and looks quite eclectic-chic if done right.
- Digitally print business forms. One benefit of digital; you can print small runs of business cards, forms and letterhead. We all know how important it is to brand everything possible; letterhead, envelopes etc. But these costs can add up quick. Send the printer your files and just print want is needed until money starts coming in more frequently.
- Update your cell phone plan. If you’re using your cell for business make sure you review your plan with your provider. You may need to purchase more minutes or data to avoid large bills that can sneak up on you.
- Purchase small business bookkeeping software and set aside time every week to take care of your finances yourself.
- Make a list of all required items for startup. Sort the list into groups starting with highest priority items and so on. Only purchase what you absolutely need from the start. I personally have bought a few items I could have done without.
- Get a coffee maker and bar fridge for your office if it is not already equipped. Making your own coffee and bringing your lunch to work really adds up over time.
- Discuss cost saving ideas with suppliers. Chances are they’ll be glad to offer up their opinion.
- Most importantly, track all your costs closely. Spending can get out of hand very quickly and affect your long-term growth.
Have a productive, cost-effective day! K
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