startup investment – Growing Forward

Collaborative post – may contain affiliate links

Whether or not you are happy with what you earn from your job, you should agree that it is always worthwhile trying to find ways to supplement that income, so that you can live as securely and as happily as possible. We all know that finding secondary forms of constant income is a good idea, but there is a huge gulf between that and actually knowing how to make it happen. Fortunately, anyone can do so, provided that they approach it in the right way and with a positive attitude. In this post, we are going to take a look at some of the best ways that you might decide to start supplementing your income, so that you can feel much more financially secure in your everyday life – and hopefully start building for the future that you really want.

Investment

If you have even just a little cash spare, you will find that putting into some form of investment is definitely a good way to go. Of course, investing itself is not necessarily easy, but as long as you are aware of what you need to do you will find that you should be able to get the ball rolling soon enough. One of the first things to decide is what you are actually going to invest in. Whether it is something relatively certain like precious metals or something more volatile – but potentially more profitable – such as property or even the Forex markets, you need to make your decision. You will then also need to find a platform you can use, at the very least so that you can keep a close eye on your incomings and outgoings, and make sure that you are actually turning a profit. Take a look at this Ally Invest review for an example of the kind of characteristics a good investment platform should have.

Side Business

If you have a particular skill or interest, there is a good chance that you might be able to turn it into a fully-fledged side business, and that doing so could be all you need to do in order to make a sufficient profit on the side of your regular income. This side business could be absolutely anything you want, so long as you are going to enjoy it enough to actually see it through, and as long as you think it has a good chance of being profitable. It might be selling something you have made, providing some kind of a specialist service, or whatever else you like. Done right, and approached properly, it could help to really maximize your bank account easily and swiftly.

Selling On

Finally, bear in mind that there is little use in holding on to old belongings which you don’t use or need, and that they could well be sold for a little profit here and there. You might not be doing this merely because you are not convinced that you will be able to make a lot of money this way- but even if you only make a small amount, it will still be worth it. Take a look and see what you have that you might be able to sell – as well as helping you financially, you might find that you enjoy having less in the way of belongings tying you down.

Collaborative post – may contain affiliate links

As the old saying goes – you have to spend money to make money in business. And it’s true, if you’re establishing a company from scratch there are lots of overhead costs that you’ll need to cover just to get to the stage where you can open your doors or begin trading online. You have an app and a website to invest in, premises to hire, insurances to cover and stock or materials to buy amongst other things. As a new company who are yet to make any profit, chances are this will be funded using savings or commercial loans, so it’s tempting to want to cut costs and make savings in as many places as possible. However, there are some areas that you simply need to spend the money in – since cutting corners would jeopardize your venture. Here are some examples.

Recruitment

Finding the right staff for your business is absolutely key. These are the people that will keep things running, it’s their day to day tasks that keep your business moving forward and turning a profit. You need the right people for the job, employees who care about the company’s success and are good at their job. You can hire based on experience, or you could hire on potential if you’re happy to train them yourself. But either way, a strong workforce is key to your success and so you need to recruit carefully. Don’t just accept the first applicant that comes your way- don’t be afraid to create aptitude tests or request second or even third interviews. You want employees that are going to stick with you and be productive in their roles.

Software

In modern business, much of the work is done online. The right softwares can make tedious tasks much quicker and easier (meaning you can use your staff to their best potential instead of them being stuck on jobs that a computer could do instead). It also means you can hire less staff in many cases, software can often completely automate some areas of business which will save you money. Using software to do certain tasks means you eliminate human error and stay as productive as possible. While there are all kinds of business softwares out there you can utilize, your best bet is to contact a company offering software development consulting services and have your own custom designed. That way it’s bespoke, it works exactly to your company instead of you having to make workarounds.

Marketing

Chances are you’ve put a lot of effort and research in before starting your business. By the time you launch, you know that you’re offering something that people actually want – and at the right price. However, this simply isn’t enough. You need marketing to get your name out there, competition in business is fierce and you need to be discoverable amongst your more established competitors. Don’t let marketing costs catch you out, they can be expensive but they’re essential.