and most aspiring entrepreneurs, may not have too much wealth. So you want to start a business, you have to treat exceptionally frugal hands of that money. & Ldquo; when you want to start a business creation, really want to save costs and make full use of each money, more benefits for the enterprise. & Rdquo; Jamila. White (Jamila White) said. She is co-founder bootstrapbabes.com blog site has a very rich variety of ideas and advice for entrepreneurs to save money on this blog site. Examine how these experts have uncovered gold and entrepreneurs who summed up tips it can do more with less, but also from the real encouraging.
1. frugal life.
23-year-old Ryan Ellis (Ryan P. Allis) and 27-year-old Aaron. Hauck Dayton (Aaron Houghton) in college there was founded iContact's idea, in 2003 they officially founded the e-mail marketing services company. Ellis recalled the early days of the time: & ldquo; we live in the office, sleeping on a futon in a grill to cook and eat a lot of ramen. This is typical of entrepreneurial experience. & Rdquo; he said, & ldquo; we do everything we can to save money and increase revenue. & Rdquo; Ellis said particular highlight one thing, others discarded office chair packaging box shopping vouchers rummaging around, just to be able to get by virtue of Si Taibo company (Staples, Editor's Note: well-known supplier of office supplies ) provides $ 50 discount. Today, the company's annual sales iContact reached about $ 15 million.
in business and in life smarter spending can help you save more money to grow the business. Search coupons to buy everything you need & mdash; & mdash; from office equipment to household food Downer. Maria. Coles. Johnson (Donna Maria Coles Johnson) said she was another founder bootstrapbabes.com site. She stressed that as far as possible not only to save a lot of money, money can be together as more
2. Use creative financing.
entrepreneurship does not mean looking for Venture Capital & mdash; & mdash; but you can use your personal capital and funds from friends and relatives, White said. In addition, you can also find a bonus from the business plan competition, or donations in the form of free money. White said: & ldquo; you did not repay these funds, they do not consider the returns issue. & Rdquo; can seek information about the sources of funding for the region free
3. the right size to local business incubator, the center of economic development, small business development centers and other institutions.
If the first line is too big, the more the required start-up capital. Do not think that market demand should seize the opportunity to come on to something big. Use of existing funds on hand to see how these funds for much of the production scale. Coles. Johnson said: & ldquo; conduct research on the industry, and then determine their own market segments
4. funds will be used in revenue generating elements. Key
small budget venture that clever use of limited resources. The use of funds in key employees who, which greatly helped Michael. Coolidge (Michael Kriz). 41 years old, he founded the company Aikelailuo (Acclaro Inc.), to operate or are overseas companies to expand overseas to provide translation services. It has a background in the translation services industry Coolidge founded the company in 2002, using his extensive personal connections, to hire only those who can directly generate income. Coolidge said: & ldquo; we use the funds to start in very short supply, so when we meet customers paying for a service, we have to hire laborers for this service. We do not hire a specific person. All businesses are like & mdash; & mdash; first, the customer is committed to purchase a service, then hire someone to achieve
5. marketing through media and word of mouth.
let others marketing for you, which is the cheapest but most effective way of marketing. Coles. Johnson said, can start looking for a small local media. Want dissemination of corporate brand, then to the local TV stations, newspapers, books publishing community and industry press to go himself as an expert to reporters interviewed launch. She said: & ldquo; the first in your area to find what are the media, and then see if there is a way you can play a role. & Rdquo;
Coolidge in the creation of his company, which is another strategy to save money is not to spend money on marketing. He firmly believes that excellent service would bring repeat customers, satisfied customers will recommend new customers. In the early start, Coolidge also focused on direct contact with potential target customers touting & mdash; & mdash; this strategy will help him raise annual sales to $ 10 million, and in Boston, San Francisco, Paris and Buenos Argentina Ellis established a branch
6. flexibility in hiring staff.
Maybe you do not have enough funds to hire full-time staff, but may seek outsourcing or looking for temporary help. Coolidge to complete some of the administrative functions of the company to use outsourcing services. For example, he paid $ 1,000 for website design company to a freelance writer, but by the content of the site is all very few Coolidge and his staff personally prepared.
Alison O'Kelly (Allison O'Kelly) employee himself is sending experts, she founded the & ldquo; Mummy company & rdquo; when (Mom Corps Inc), came up with a lot of clever employment programs. This helps employers to send employees with flexible employment market linkages (such as those who have chose to depart from the traditional work environment moms). Since the company was founded in 2005, she has hired a number of outsourced employees system, which helps corporate general and administrative expenses at a low level. & Ldquo; All my employees are in their home office, so they are using their home computer and telephone, we do not have the cost of any infrastructure equipment, & rdquo; 35-year-old O'Kelly said. & Ldquo; we hire salespeople, only really make money for the company when they can get a commission. & Rdquo; in addition, O'Kelly was trained CPA, so she never had any employment outside accounting officer & mdash; & mdash; these completed by herself.
7. learn to negotiate and bargain.
many fledgling entrepreneurs did not realize that everything depends on negotiations & mdash; & mdash; charges from the cost of technology and merchant account to a web designer and printing company. & Ldquo; just stuck a price tag that does not mean there is no room for bargaining on certain things, & rdquo; White said, & ldquo; the worst thing they can do is to tell you, but & lsquo; No & rsquo ;, but too many entrepreneurs do not even have to ask whether it can bargain. & Rdquo; if you pay by cash, more conducive to bargain, Coles. Johnson added.
O'Kelly company now has annual sales of about $ 2 million, in the early days she would bargain with suppliers to control costs. O'Kelly said: & ldquo; you can say: & rdquo; I do not have so much money to do this, I have only so much that you are willing to seek cheaper why
8. technical tools.
there are so many free and low-cost software solutions, you have to do is to find out. For example, data backup service Carbonite provided only $ 4 per month. & Ldquo; 10 years ago, online marketing tools are very rare, and the price is very high, & rdquo; White said, & ldquo; now these tools are getting better and better, but also very cheap. & Rdquo;
all technical you can find low cost to build and market your business & mdash; & mdash; from blog to an email newsletter, Coles. Johnson said. & Ldquo; Today, entrepreneurs are on hand with many big companies and funds more solid as advanced technology
9. make good use of credit cards. Despite the early start
important goal is not stuck in debt, but make good use of a credit card purchase there are still many benefits. When you need to purchase for the company, you can use those to provide rebate incentives or cash rebate business credit card or personal credit card. & Ldquo; before the debt burden to be very careful, carefully research your options, & rdquo; Coles. Johnson said. & Ldquo; make sure you really need (not want) that thing you have to spend money to buy. & Rdquo;
you can pay off the monthly bills or credit cards with rewards program in order to avoid the high cost, you can get cash rebates, travel rewards or airline miles & mdash; & mdash; there are many similar projects. & Ldquo; We do not favor the accumulation of credit card debt, but use of a credit card rewards program in favor of cash flow, allowing the procurement activities of the company to play an active role. & Rdquo;
10. White said a small portion of equity as salary payments.
pre lack cash flow does not mean you can not get a first-class talent. See Ellis and Hawke Dayton when the company was founded iContact done, you can try: part of employee remuneration with cash, with a portion of the company's equity method. & Ldquo; When we hire the first employee, pay a portion of the company's equity plus $ 1,000 per month. Our very creative, often used to reduce the pay equity compensation expense, & rdquo; Ellis said. & Ldquo; In the first two years of the company business, my partners and I have not won compensation from the company, we do everything we can to reduce the cost