Starting Business on a Shoestring
Starting your business on a shoestring budget.
I have several friends that have recently started small businesses. Being a small business owner for over 20 years, I am often asked for advice. If you have the time to listen to me rant, veer of topic, and deal with my caffeine/energy drink fueled ADD, I am always happy to give suggestions and share my experience.
My most recent conversation was with a friend starting a wedding planner business. I spoke with her for 15 minutes on the phone, and after hanging up I realized I have some knowledge I should share with others. So… here we are.
- Pick a business name.
My rules for picking a business name are:
1. Keep it simple
2. Memorable
3. Easy to spell
4. Brandable
- Register Your .com:
There are several websites to get a domain name for your business. I tend to use Namesecure.com or Godaddy.com each around $10 per year. I only recommend registering the .com version. If you’re having difficulty finding a domain name here are a couple domain name suggestion tools. Once you get your domain name you’ll need a web site. (More on this later)
- Get a Business Phone Number:
If you are like me and your business will be started from a “home office”, I suggest getting a virtual office. For as little as $10 per month you get and 800# voice mail & call forwarding. (See Grasshopper.com & RingCentral.com) or if your looking for a Free phone number check out Google Voice.
- Your Business Address:
Depending on your business type, you may or may not need to publish your business address. If you are considering using your home address be warned that you will start receiving lots of junk mail, and you will lose some of your privacy. A couple of inexpensive options for you are getting a P.O Box from your local US Post Office. (Depending on your local branch you can generally pay for a box 6 months at a time). Another option is the UPS Store or Mailboxes etc. Both UPS & MBE give you a real street address vs. the P.O Box #, thus giving your potential client the impression you have an office. (If you are looking to spend a little more consider looking into a virtual/shared office)
- Business Cards:
For professional looking business cards that are FREE or very inexpensive go to VistaPrint.com, or Moo.com. Both companies have online business card templates for you to design your own. DO NOT print your own business cards at home. Print at home business cards are thin paper and DO NOT look professional. Your business card can be that first impression of your business; do you want to look cheap?
- Your Website:
To stick with the topic of this article, I am going to tell you about free website builders. However, the free website should be only used to get you started. In order to be truly effective, you will need a professionally developed “functional” website. Some free website builders are; weebly.com, sites.google.com, wix.com, or a blogging platform like wordpress.com or blogger. Most of the free site builders are free because the companies that provide them host advertising on your page. When you graduate to a professional website a “flashy” website is not always the best option. You want the website “functional” and built with search engine optimization in mind.
- Advertising:
There is plenty of free advertising available if you know where to look. One of the more popular options is Craigslist.org; there are others like kijiji.com, backpage.com, classifiedads.com also. Google, Yahoo, & Bing offer a local business directory, as well as local.com, and superpages.com. The best free advertising is word of mouth. Tell EVERYONE you know that you are in business, and have them spread the word for you.
- Social Media:
When done right, social media can be a great way to build your new business with little to no cost to you. Create a Facebook page for your business, suggest your business you all your friends, and have your friends suggest to their friends. Sign up for a Twitter account and link it to your Facebook page. In order for social media to be effective you need to stay connected and check in often. You want to update your Facebook wall and your Twitter stream but don’t over do it. Use social media as a way to start new networking and potential client relationships.
These tips will help get you started on your new venture with minimal out of pocket expenses, without appearing like you took the cheap way out. If you have any other suggestions or tips you would like to add, or have additional comments, I’d love to hear from you.
– Joe Digi