Many if not most startup entrepreneurs don’t come into the entrepreneurial game with a large amount of money so you have to make eliminations and adjustments with your spending habits. How am I going to start my business with no money? Easy! Just get started. The most successful entrepreneurs started where you are on a low-budget and there were some who started with $0. Running a business on on a low-budget requires financial discipline; It can be done. I will explain the 5 ways as follows:
- Eliminate or cut out unnecessary expenses for example T.V. that you don’t watch. Most of us do not watch ALL the channels available in our cable packages. Cable television is becoming higher and higher, if you’re spending out of your means ditch cable and get alternative television, such as Netflix and Hulu or antenna television. Frequent eating out is expenses; limit eating out at least once a month. Cook at home.
- Use as many free resources as possible for example social media is free to use and offers free networking, business exposure and business advertising. Another example, there are free business bank account with no monthly fees, one example is Spark Business Checking
- Keep track of necessary expenses that are unavoidable for example a business bank account WITH fees or a software such as an email marketing autoresponder, such as Aweber. Keep track of such fees and their due dates so that you won’t spend money set aside for paying these fees.
- Take advantage of the free training available at your fingertips. All trainings are not free however, there are some courses and trainings that are available free so take as much advantage of them as possible to help you network and grow your business.
- Save on household expenses such as air, water cut down on usage. Don’t keep the water running while you’re brushing your teeth or if it’s not really that hot in your house don’t hike up the thermostat. Also save as much money as you can, including dollars, quarters, dimes, nickels and pennies.
This concludes five ways for startup entrepreneurs to save money on a low-budget. I hope that you have gotten some value out of this. Like, comment and share.
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Rhonda, The Virtu Works Fore U Mompreneur
Have A Blessed Day!