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.
1. 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.
Another idea is getting a custom-drawn image and using it as a logo. Then simply adding your text in Canva as I mentioned above. It’s quirky, unique and you’re guaranteed it hasn’t been done before. Oh, and I can do that for you (wink, wink).
Some of the logos I’ve created over my journey
2. 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 (this is changing slightly at the end of 2019 where it’s not automatic for Aussies.. frowny face) 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.
3. 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.
In fact, this very site you are on right now was built from scratch by me!
And well- if I can learn to do it, so can you! I’m always happy to help out if you’re starting out so feel free to shoot me an email if you have a question.
4. 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).
You can learn just about anything on YouTube and this is no exception.
Peter McKinnon is a photographer and videographer who has a channel jam-packed with tips on all things audiovisual and I highly recommend checking his stuff out.
5. Exchange your product/services for other businesses products/services.
Some people are dead against this on principal because yes, there is much that can go wrong but you just have to use some common sense and besides, when you got no money you gotta get creative!
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).
One of the gorgeous images Mel took for me.
6. Network, network, network.
A lot of people cringe at the thought of networking.
Networking to me, felt slimey and schmoozy and it wasn’t something I was terribly interested in. I guess I associated it with high-flying corporate men who wanted to land deals and butter up clients.
Then I joined Fusion Biz Co and met my kinda people. Networking has helped me build so many relationships and gain so many skills thanks to regular workshops and simply by chatting to people and learning from other women in the group.
Even though Fusion has a membership fee, there are plenty of free networking events around and thanks to apps like Meetup.com you can find one near you.
You can also read my blog about why networking is so helpful to small businesses here.
9. Outsource to your friends and family for some help.
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).
The only person stopping this from being an option, is you. Think about that.
8. 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.
The best part about using social media? It’s FREE.
Yes, you might not get the same reach with algorithms etc. but it’s perfect for building brand awareness and it’s a must in business these days.
Amee, from Juicy Creative Co shares BULK tips on how to use Pinterest to market your business. Pinterest is definitely not as popular as the major social media streams but man, it packs a punch in terms of what it can deliver. Check her out.
9. Listen to podcasts to level up.
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.
I’m in the process of creating a post for my favourite podcasts, so watch this space.
What have you done to save money in your own business? Make sure you let me know over on our socials by clicking the links below.