A few times recently I have heard people tell me they don’t have the money to start a new business and they have it in their mind it costs a lot of money and large investments are required for a new start-up venture.
Most of the time I would advise against spending a lot of cash to get a new idea off the ground and my philosophy is always the opposite to spending. I am always thinking and saying: “What is the minimum time, money, people, investment I can get this going with and create income in the fastest time”.
More often than not I can prove if a business is likely to bring in a profit with just my spare time and less than a few hundred dollars (£200) over a month or two. After that I drop it as a bad idea or use the money made to reinvest and make more. I don’t use more of my own money I just use money made by the business.
It costs almost nothing to register a domain name, you can create a website or blog in minutes with WordPress or Wix for free or tiny amounts to use your own domain name. Services for selling and taking money like eBay and PayPal are free (or small percentages) to use easily. It’s not difficult or expensive to “set out your stall”.
The only additional component required is for you to sell. This is the part most newbies don’t understand; you can’t sit back and wait for the cash to roll in. Even with the best ideas it never works that way. YOU have to actively promote it and sell it. The success of a new business is not down to how good the logo is or how many staff you’ve got or how efficient your phone system is or whether your computer is new or old. It’s down to how well you can sell “it”. I have seen new businesses that consist of one person with no website, no staff, just an old laptop and a mobile phone and they make money from day one because they are out there selling and taking payments for a great idea/product/service.
I know I’ve been banging on about sales a lot recently but I can’t emphasize enough how important it is for businesses to be more sales orientated to be profitable.
I hope this inspires someone to take a chance on an idea and go out and sell it or to change a failing business into a profitable one. Please leave comments on your thoughts and experiences below.
If you would like some help with marketing your business or just to share your experiences I would really like to hear from you. Get in touch via the form below and I will email you back.