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When you’re starting out in business, money is going to be tight. You may only have a selected budget due to what you could get from investors, ore could be funding the business start yourself. So it is easy to understand why avoiding spending can be a good piece of advice. But there are some things that are worth spending money on, especially as you start out in business. Here are just a few of them for you. Often it is worth spending money to make money!
There are no two ways about it; your business needs a website. No matter how small the business is, a website is a great way to generate sales and build up a presence online. Having a website allows you to rank higher on search engines and reach potential customers that you wouldn’t otherwise. But you need a slick and user-friendly website to make it worthwhile. If it is slow to load or doesn’t work on a smartphone or tablet, then people will just click off.
Logo and Marketing
If you want your website to launch with a bang, then having a logo designed, as well as all of your marketing materials, is a really good idea. Not only will it look cohesive, but it will look so much more professional too. People are going to take your business seriously if it looks good and is all the same. Having different logos on different marketing materials can look tacky and confusing.
Depending on the type of business your startup is, self-storage can be a good way to invest some money to start with. While you’re unsure of sales and product demand, having plenty away in storage can be a really good idea. You don’t want to do the launch of a product and you’ve hardly got any inventory to sell. So this is where it can come in handy. You might not always need it, but to start with it can be a good thing to do.
The first launch of a business or product does need some budget behind it. It might be a physical launch that you invite people to, where your budget is spent on a venue and food, for instance, as well as goodie bags for attendees. It could be an online launch using bloggers and influencers perhaps. But that will still require some of your budget too, as they may charge fees, as well as budgeting to give them some product to try. So having some of your budget set aside for a launch can be a good way to start the launch off in a big way.
If there is only you at the moment, but you are constantly rushed with a massive to do list, then hiring staff, or even freelancers to get some tasks done, can be a good way to invest your money. Admin, social media, and blog posts all need to be done. But they aren’t the big money things that will make the business money. You need to focus on the latter, and an assistant can focus on the former.