Setting Up Doesn’t Always Have To Break The Bank

June 17, 2019 2:21 pm

When your mind is racing about an idea, that could potentially make you into a very successful business, it’s instantly stopped in its tracks. All of the sudden your rational brain comes in, and you can’t help but think of all of the things that would get in the way. For one, how the hell do you even run a business!? And two, how are you meant to get all of that money together in order to do so. The simple fact of the matter is, plenty of people have a business idea, that would most definitely make them rich. But knowing about the execution of it all, and trying to put a business together, means that half of the people who could, never will. So one of the biggest worries that people have, is that the money is going to be so crippling, that a business will never actually get above a profit margin. Well, whilst it still might be super expensive, there are ways of dramatically reducing the cost, so that the initial investment is so minimal, but the potential for success is still so high. So if you’re on the edge about your business idea, with it being only money that’s holding you back, keep on reading, and let us show you how you can get those costs down!

Stay Away From The Banks

The banks can be a pretty risky place to try and get your money from, but for those with a big idea that requires a big investment, it would seem like the only place to go. But the thing people go wrong with here, is that they don’t save enough of their own money, simply because they know the banks are most likely going to lend all that the idea requires. But the issue here being, the more you borrow, the more you owe, and without any money of your own to fall back on, the risk is super high. So even though the excitement of the idea is high, and people are no doubt telling you that you should go for the idea right now, you really need to think about how much easier it would be to wait and save your own large chunk of the money, and require minimum from the banks, meaning you’re carrying a far smaller risk!

Think Savvy With The Smaller Payments

So the one thing that people seem to underestimate when setting up a business, is the little payments that have to be made, especially when setting up shop or office. It’s the part of your business that you think will cost so little, yet when you come to actually do it, the price just goes up and up, as your shopping list does. So one thing you might want to consider is buying used office furniture instead of brand new, and new technology, instead of buying the latest spec. The money you’ll save just by doing this is going to be huge!

Use Your Initiative
Finally, it’s really important that you use your initiative here. So one example, is with the food industry. Setting up a restaurant is big, and there’s a ton of competition to try and keep up with. The investment is so high as well, that it almost isn’t worth it. But if you were to set up a food truck first, you’d be spending well under half as much, and food trucks are really becoming popular at the minute!

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