Starting a new business is not easy. But one of the biggest frustrations faced by small business owners is working on a tight budget.
Not having enough funds to campaign big or hire expensive talent doesn’t mean your business can’t achieve big. A tight budget might give you fewer options, but if you plan right, you can leverage some great resources to grow your business that won’t break the bank.
Tight Budget Tip #1: Use automation
Using machines and intelligent software to perform tasks that are repetitive and time consuming can save you a lot in labor costs. Funding automation is usually a one-time big purchase followed by small periodic maintenance costs. When you do the math, it costs you significantly less than a full-time employee with benefits, while delivering more results.
Tight Budget Tip #2: Hire contingent workers
Today over half of the economy is outsourcing their work. Hiring a temporary worker for short-term projects or activities outside your core function is significantly cheaper (and is a lot of less paperwork!) There are multiple platforms online that connect you to freelancers, contractors or consultants. Cerius Executives is one such platform that specializes in connecting you to their trusted network of vetted interim executives.
Tight Budget Tip #3: Build a blog.
A blog is a great way to build your brand and engage in Search Engine Optimization (SEO). By frequently posting good quality content on your blog, you can boost organic traffic to your website without paying for ads. Users that like your tips and tricks on the blog will dive deeper into your website for more. Tight budget or not, running a blog is free as long as you create the content yourself.
Tight Budget Tip #4: Do email marketing
Build a mailing list for people who have expressed interest in your product. Ask for their email at the point-of-purchase or when they visit your site. Be careful not be too annoying and be labeled as a “spammer” by constantly sending out email blasts with no new information. Send them out weekly or bi-monthly with some quality content.