There’s no denying it, money (or lack, thereof) is often a major pain-point for those starting a small business.
I believe the best thing to do in small business is to just start. If you overthink everything and feel like every component of your business needs to be perfect to begin, well you’ll end up doing nothing. How are you supposed to kick your goals if you won’t actually start?
There are plenty of ways to save money in small business and startups. These are just a small collection of what I have found to help me along the way so that you can simply begin the journey.
9 ways to save money when starting a small business
Design your own logo
I can see all the graphic designers out there cringing and yes you should definitely get a pro if you can afford it but I am of the opinion that done is better than perfect, don’t try and get everything perfect if it’s going to prevent you from actually starting.
The best thing about Canva is it is totally FREE. You can use their templates or get creative and do your own thang.
If you upgrade to the PRO version, you get a free 30-day trial and during this time you cash in on the customisation options.
Do your own book-keeping
There is free software available online through Wave.
It is so simple to use, you can link to your bank account and it helps to itemise and reconcile all the expenses and incomings you have, so when tax time rolls around you aren’t scrambling through a box of receipts!
It is also a good idea to set up a separate business account to help track your incomings and outgoings – as you can sync this with your Wave account and helps to simplify the process by not having to wade through personal expenses.
Build your own website.
People often believe they need a web developer to create a website. However there are so many platforms that are very user-friendly such as Square Space.
I learnt to build my website from scratch using WordPress.
In fact, this very site you are on right now was built completely from nothing by yours truly. And well- if I can learn to do it, so can you!
Take your own product/lifestyle shots
Take your own product or lifestyle shots. I would recommend investing in great photography but it can be a tad on the exxy side. In the meantime, you can take some fab photos yourself with your smartphone (tutorial to come on this).
Exchange your product/services for other products & services
If you don’t have capital but you have a skill or product. Why not reach out to the peeps you need and see if anyone would be interested in an exchange? Saves the dolla dolla bills.
With Borne Too – a photographer (Mel, from Lion Fox & Co) reached out on a business networking page looking for baby/mum products, I exchanged some clothing for profession product/lifestyle shots and never looked back. She’s even gone on to take some more lifestyle shots for me (she’s a gem).
Create your own typography/biz graphics
Again, you can use Canva for this, or you can download apps such as Wordswag.
There are plenty of free versions out there but the cost-factor to purchase them is often quite low anyway.
Outsource to your friends and family for some HALP
Your peeps closest to you generally would love to help you. So why not see if there is something they can help you with that may be their area of expertise?
They could help with a service they specialise in, or they could help pack orders, manage logistics or feed you when you haven’t had time to cook for your family (guilty).
Create your own social media strategy
There is SO much information out there on how to use social media marketing for your small business. It just takes time to sift through much of it to pick the things you wish to implement.
Listen to podcasts
Hi, my name is Jessie and I am a podcast addict <hi, Jessie>.
The podcast world is FULL of nuggets of wisdom and the thing I love the most about poddies is that you can listen to them when you’re doing something else.
You will up-skill yourself in so many areas just by tuning into a great podcast. Check out my current top-5 small business podcasts that I’m listening to on the regular.
Do you have ways you’ve managed to save money in small business? What worked well for you? Be sure to share your thoughts over on our socials.