You may indeed have the best map to the top of the mountain, but if you have no idea which equipment to use and how, then you may even find yourself in a perilous position with no help in sight.
The climb up to profit is a primary goal for any business. It isn’t just about a spiffy business plan, it’s also frugality in terms of your resources.
Here are a few survival tips while traversing that mount of thrift:
Save on equipment. What you can’t do efficiently and at low cost for yourself, have them done by others for you. You can rely on Kinko’s to be competent in terms of digital print-on-demand; they have photo-copying services that you can avail of, they can design graphics and signs for you; they even have packing and shipping services. They also have a strong online presence and you can avail of these services through their websites.
A trip to the local post office or other photo copy shops won’t hurt for any other documents or shipping your business may demand. Your own photo-copy machine isn’t just expensive to purchase, you’ll also have to think of paper, ink, and the most costly of all…its maintenance.
If you must buy, get everything second hand. Rummaging goes for you, too. You may find just what you need in local auctions, newspaper ads and secondhand shops. If scouring the online world is your thing, eBay is the all-famous auction site.
What may be your biggest deterrent is quality. Take steps to inspecting and testing the merchandise before you buy. Purchasing from a friend can make this process easier.
Don’t spend too much on office space. It isn’t necessary for businesses to rent or buy space immediately; overhead has been known to suck one’s capital to oblivion.
Start slowly and plan ahead. A spare room in your house can work as a viable HQ. Keep it away from distractions, and make sure it won’t inconvenience others in the household. Once your business gets bigger, you may need more space for your equipment and personnel; by this time, maybe it’s time to move.
Hire only necessary personnel. You don’t want your money spilling pointlessly into places – or people. Hire those who are competent, who will assure you of good performance, and who are willing to work hard. Too many people mixing the brew can ruin it; one can very well be better than two. In this age of multi-tasking, you’ll find that the best of them can do two asks more efficiently than an army of employees.
Account for everything. Bookkeeping and accounting will help you track your income and expenses; this improves your chances of making a profit. The financial information involved will be necessary for filing various tax returns.
With all these tips in your survival kit, you have all the right gear. So climb that mountain with prudence in your pocket and peace in the mind.