So you’ve researched your local market, considered all the pros and cons, and are convinced that your business idea is excellent. With $ 50 or less, you can start your business and be well on your way to success.
1. Get a library card. This precious card is free and will give you access to the Internet, computers, printers, copiers, business books, magazines, and more. You will likely need a photo ID (state issued) and mail addressed to you that has been processed through the postal system with a date stamp. FREE
2. Establish a business phone. Make sure you answer the phone in a professional manner every time it rings. A prepaid cell phone works well for this. COST: $ 20.00
3. You will need business cards … a lot of them. There are many different methods for this, from the do-it-yourself type at Staples to very high-end cards. To get started with a good quality card, Vistaprint.com is a great place to start. You can design your own card and have 250 business cards delivered to your door for $ 5.67. Take them with you everywhere. In your pocket, your wallet, purse, car, desk, etc. Don’t leave home without them. Use them to schedule appointments, provide your phone number, email address, bid, and more. COST: $ 5.67
4. You will need a website. Have you ever noticed how high directory-type web pages rank in a Google search? Merchant Circle is among the best. Be sure to register your business on Merchant Circle.com so potential customers know about you. Even if you decide to branch out and build a stronger site, Merchant Circle can help you drive traffic to your official site. It’s a great tool and it’s free. Do you need to buy / sell online and accept payments online? Before spending thousands of dollars on a web developer, test your concept for free on ebay, amazon, and paypal. They have a ready audience and great tools to drive customers to your products online. FREE
5. Word of mouth is the best advertising. Let everyone know that you are in business by sending an email or posting on a social network (like Facebook) with an offer. For example, “Mention this email and receive a 10% discount on ______.” You might also consider offering a referral rewards program. Whatever the promotion, make sure you’ve carefully considered your profit margin. A general rule of thumb is “if all customers used this promotion, would they make a profit?” If the answer is yes, your numbers are likely reasonable. FREE
6. Perfect your tone. What is your job? In 30 seconds or less, you should be able to present your business in a warm, friendly and pressure-free way. You think you’ll know what to say, but most people don’t. Instead of locking your tongue and losing the listener’s interest, practice out loud exactly what you will say when you have the opportunity to tell someone what you are doing these days. Say it with a smile and some kind confidence and take the opportunity to hand out a business card or two. FREE
7. Advertise your business. AHA! Now you’re going to have to spend money … a lot of money, right? Fortunately, there are many easy and super affordable ways to advertise your business. COST: $ 8.00
Recommended methods are:
- Post brochures in local establishments that provide bulletin boards for this purpose. The best places to find these opportunities are retail stores and churches. (copies: 8 cents per page at Staples. 100 copies = $ 8.00)
- Offer to speak at local civic organization meetings. Groups that meet frequently tend to be receptive to guest speakers filling the meeting places for breakfast and lunch.
- Offer to provide your service for free to a group or organization for a short period of time. This will give you the opportunity to hone your skills and gain valuable feedback to help you grow your business.
- Offer to be a guest speaker on a local television or radio show. Some radio shows offer a segment where business owners can call at a certain time to give their speech to listeners.
8. Good coffee. Or a movie … whatever your favorite way to relax and recharge, you will need it. Starting a business is very hard work and there will be times when you will wonder if it is worth it. Grab a few dollars out of the $ 18 you have left to have fun and re-energize yourself towards your vision. COST: INESTIMABLE
See you at the top!
