Getting A Business Rolling On The Cheap

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If you are thinking of starting a business, probably your main concern is going to be the financial side of things. Most people who want to start businesses don’t feel that they actually have the means to do so, and this is generally something that gets in the way for most people. But you can always find a way around it, and it is necessary to do so if you want to make sure that you are going to get your business up and running in no time. As it happens, there are a lot of things you can do to make sure that you can get your business rolling on the cheap, and those options are what we are going to look at today. Consider the following to get your business up and running without having to spend too much money in the first place.

Free Marketing

Because marketing is one of the first things you will have to do in order to get your business going, it is one of the first things to think about saving money on. As it happens, there are plenty of ways in which you can market your business for absolutely nothing, and it is a great idea to do so if you are keen on saving some money. One thing you should always do when you start a business or launch a new product is send out a press release. These are free, and if your writing skills are on par you will find that it can be an effective means of marketing. Also, remember that social media is a great and free of charge way of spreading the word about your business. The more you make use of such channels, the better.

Sourcing Equipment

You are always going to need supplies of one kind or another, no matter what your business is going to do. Finding these supplies for cheap can be tough, but there are a lot of options you might want to consider which can make it a lot easier for you. One great method you might want to consider is to go to municipal auction houses, which are a great way of getting hold of second-hand items, especially when you are looking for larger items such as machinery. Whatever you need, you can find something this way. You should also bear in mind that you can always source equipment from friends and family – you never know what connections you have until you try.

Hiring Help

Because you will generally always need something in the way of help, it’s a good idea to save money here too. Of course, you still want to be fair to other people, so make sure that you are not simply paying people less than they deserve. Instead, think about freelancers or using online helpers, who can often do your tasks quickly and cheaply, and in way which can really help you to get your business up and running.

The Case of the Disappearing Perks

poof

Poof. Free food, gym memberships and laundry service are disappearing from the startup culture. Why?

The bottom line: profitability rules. Pair that with a halt in venture funding and something has to give (or go in this case).

For a while, particularly in the Silicon Valley, VC’s and Angel Investors were investing left and right, but now the frequency has slowed down. It’s hard to speculate why because the reasons differ for each investor, but it’s the trend moving forward.

What effect will it have on the job market?

Retention. Expect an exodus of younger employees to larger companies, not so much because of the disappearing perks, but what “rewards” represent. In life, you don’t miss something until it’s gone. If you never had work perks, you don’t miss them. But if you have perks taken away from you, it leaves a bad taste in your mouth.

Couple this with the average job tenure of Millennials being 3 years (in my opinion it’s much less than that) and the startup bubble begins to burst.

Yet the grass isn’t always greener on the other side (ever turn grass over?). With a decline in entrepreneurship for young professionals it signals a smarter worker. Millennials want to have their cake and eat it too (who doesn’t?). Corporate jobs aren’t so bad as long as they don’t completely eliminate your personal life.

In an earlier post, I mentioned lifestyle is the new passion, which means work is a means to an end. Perks help, but ultimately things like: purpose, career advancement and a pay raise matter more.

This isn’t to say perks don’t help retain workers, they do. But on the bright side, companies with a strong mission/vision don’t need them as badly to keep talent around. Admit it, luxury items such as perks come and go through cycles, but stripped down to the core: meaningful work matters most.