Running a business on a shoestring
When you set up a business you need money to get started. It is easy to spend a lot of money upfront on designing a website, marketing materials, buying tools, etcetera. However you can be quite creative and save yourself money when investing in your business by trying the following:
Create a Facebook and LinkedIn account, join Twitter and create a blog. All sorts of social media can be used for promoting your business, selling your products and getting followers and they are all free of charge.
Take a secure (part) time job on the side to pay your living expenses and have some spare cash to invest in your own company. For instance being a night porter, house or pet sitter are ideal jobs to do while working on your business plan and marketing your business.
Swap unwanted items for free on the internet; it is an excellent way of getting items such as tools and computer accessories you need but can’t afford. Check out www.swapshop.co.uk or www.iswap.co.uk
Crowd funding is a revolutionary way to raise funds, originally initiated in the USA. It is a way for people to pool small amounts of money to back a good idea or project. To find out more look at the following websites: www.crowdfunder.co.uk, www.crowdcube.co.uk and www.pleasefund.us
There are so many networking possibilities in London; most you can visit for free, or pay a small fee for a breakfast or lunch, before joining as a member. In that way you can already promote your business by talking to as many interesting business people as possible. For examples of where to network, see previous blog post non-stop networking nous.
Business start up fairs
Attend the many business start-up fairs in London Excel, Earl’s Court and Olympia held throughout the year. Examples include business start-up fairs in November and May and the Franchise business fair in March. It is a good source for free information about accounting and business planning, your can try out your networking skills and it is an excellent way to explore new ideas. The next business start-up fair is on the 17th and 18th of May at the Excel in London see for more details: www.bstartup.com
Economic and personal shopping
Last but not least, save some of your monthly expenditures by buying more economically. Buy some of your groceries at local markets in your neighbourhood rather than at the more expensive supermarkets. Use websites like Ebay and Gumtree for buying and selling tools, computers and even your clothes. You will be amazed how much money you can save and therefore invest in your own business.