When setting up a business it pays to limit your start-up costs. It’s
reassuring to know there are affordable options for start-ups. Here are
five ways you might be able to minimise your start-up costs, while
still hitting the ground running…
1 Home from home
If your business is new, it’s unlikely you’ll be able to splash out
on premium office space. Setting up a business from home has been made
easier thanks to smart technology, super-fast broadband and
the flexibility to work when you want. But when your four-year-old picks
up the phone to your new client, it can end up costing you.
Entrepreneurs are now combining the flexibility of home working with
the use of a local, managed workspace. This way they can benefit from a
fully equipped office and meeting space as and when they need it.
2 Coffee shop temptation
When you first start out, you’re keen to follow any lead, and
research we carried out suggests entrepreneurs would meet almost
anywhere to secure a deal. When asked where the strangest places they’ve
ever held a business meeting some of the weird and wonderful answers
included the back of an ambulance, a navy warship and a cave! Coffee
shops are a tempting meeting place, but negotiating while surrounded by
talkative shoppers could prove tricky. Our research suggests 64% of
business people would choose business centres over coffee shops when
they need to be professional and productive.
3 First impressions last
When a prospective client contacts you, you must seize the
opportunity. But important calls can come through to you when you’re
queuing at the bank or boarding a plane. A ‘virtual’ receptionist is an
independent contractor and more affordable than a member of staff. The
receptionist, who’s often multilingual, will answer with your business
name and can extend hours of availability so you never miss a business
call again.
4 Be sociable
“Social media is to marketing as eye contact is to a handshake,” says social media guru Meg
Fowler Tripp. Around 1.1bn people use Facebook every day and 200m go
on Twitter, according to BuzzFeed. No new business owner would turn
their nose up at free marketing, that’s why so many businesses now use
social media channels to promote their products or services. But don’t
ignore channels such Pinterest, Instagram and YouTube, particularly if
your business has a visual aspect.
5 Secure your place in the den
Even some of today’s most successful entrepreneurs, such James Caan (formerly of Dragons’ Den),
didn’t start out in their own office space. He, like many other new
business owners, opted for a virtual office, complete with a virtual
address.
This affordable solution is increasingly popular among start-ups,
home-based businesses and companies expanding into new regions. It
eliminates the expense of renting while offering a business presence.
Providing you with a local business address and phone number, it’s a
convenient stepping-stone to a physical office.
Follow me on Twitter @GoldenWords_UK
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