Where To Spend and Save In Your Business

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If you have recently launched a business or are just in the planning stages, you might be ready to spend a lot of cash on everything you think you need. You have to be sure that everything you spend money on will give you a return of some sort. 

For some that will be a financial return, and for others, it will be freeing up your hours. Some companies are lucky, (and that is lucky as in, they worked very hard and had a great strategy in place that worked), and their products sell out in minutes. Others find that a shoutout from a celebrity or an influencer sky-rockets their products. 

It is more common than we don’t always see those initial investments back for a short while though. So what should you be investing in that can give you more than just your money back?

Space

Now while most businesses can run from a kitchen counter, when you are pitching for a big project, some companies want to see a more prestigious name on the location. It can often be the case that using virtual services can give you that kind of klout without the substantial financial commitment of actually hiring one. It is also a good idea to get out of the home office once in a while and check out co-working spaces. 

The Impact Hub is a global co-working space that people love to use. If you don’t want to commit to a monthly fee or want a little more freedom, then your local coffee shop that has some plugs and wifi will probably be perfect. A change of scenery is always a great idea to give you fresh ideas and a new perspective. Save.

Website

There are, of course, millions of amazing website designers all over the world, and there is a range of ones that aren’t good, but they will still happily take your money. And when you can afford the cost of a professional website company, then it is something that you should go ahead and do. However, now we have a vast range of website builders that are as simple as dragging and dropping. 

The most popular options are WordPress, Wix and Squarespace. You will need to find the domain name, which will usually be your business name. You can check if your domain name is free online. Hosting will also be something that is essential. Siteground is a popular option with a range of options. The more comfortable you get with building, the better. There are a number of things you can add to your sales too. Like Woocommerce. Save. Just bear in mind that you’re also going to need a mobile site, so that it’s responsive. You may even want to look into building an app if you believe it will make your audience’s lives easier. You can learn how much it costs to build an app and make plans from there – it’s always better to spend more on a well built app.

Social Media

The art of conversation online will start and end with your social media. This is where you will be meeting much of your new clients and customers. You will be able to know them better. The analytics that you have access to will help you improve everything from your traffic to your sales funnels. You will need to have an idea of the goal of your social media so that you have something to aim for. Here are a few platforms that can help you put together campaigns, and keep track of the metrics too. 

• Sprout Social
• Buffer
• Plan only for Instagram
• TailWind
• Hootsuite

Are all great options for you to make the most of your social media. Small spend. 

Hiring

When you have big projects, you might have to hire in extra hands to help you take care of it. If you have an idea of the people that you will need on your team, then you can check out People Per Hour, Fivver, Upwork and Freelancer to hire the person that meets your skill requirements and budget too. Small spend.

Tangibles

Networking events can be amazing for making contacts in all of the right places, but if you don’t have anything to leave with them, or materials to put on the tables, then you will soon be forgotten. Business cards are a quick way to leave you contact details and a great first impression. So rather than spend money on generic cards, take the time to design something that suits you and your business. 

Try not to buy too many marketing materials and business cards early on, because the chances are you will want to try a few and see what has the best impact. Not only that but freshly launched companies tend to rebrand within the first year or so. Save and then spend later. 

Those are just a couple of the areas that you will be considered in the early days of your business, and you don’t need to splash the cash to be a success. 

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We’re here to help you to take action just like we’ve helped thousands of other entrepreneurs, business owners and creative professionals all around the globe.

Now is the time to let your passion SHINE.

Now is the time to Make Tomorrow Today!

To your success,

Vinh Van Lam & Stuart Horrex

Your Coaches ArtSHINE industries