Small & Home Business must watch the pennies
When you’re just starting out on your new project every new business person has to be careful about how much they spend on what. Their resources are not limitless and it’s all about priorities. Starting a new project needs capital – money that is not gained from running the business which is called revenue.
Capital is the seed-corn that comes from savings and investment in the hope that those seeds will thrive and grow giving a crop of income – the revenue. Being cautious about how much capital you spend and on what you buy is an important lesson to be learned as soon as possible. There are many things your business needs and never enough cash to get them.
Get the word out
You may have a miracle product or an unbeatable service but if nobody knows, you are not got to make many, if any, sales. Promoting your enterprise is essential. You have to reach as many of the right people as possible. There’s an old saying about salesmen being so good they could sell fridges to North Alaskans at Christmas. It sure got to be a lot easier to sell those same fridges to people in much warmer climates.
That’s why the word you get out to people must reach the right people. Folks who need what you offer. It would be a big waste of money to buy a half-page advert in a national newspaper if you were starting a local dog-walking service. Local newspapers are much more effective, or even small cards in shop notice boards or the local public meeting places. Your advertising must be focused.
Return on Investment
When you start, no matter how much you think you know, you still have to discover what works and what doesn’t. There’s no secret, no Harry Potter spell. A lot of the time you have to ‘suck it and see’. So, it follows you must be cautious how much you spend finding out. Each attempt to get clients must be focused but it must also be cheap. Some adverts will work, some won’t and the same for where you place those adverts. With all this testing going on, each must be very economic or you’ll soon have nothing left.
Focus on your strengths
There’s going to be a lot to learn. If your new enterprise is dog-walking, then you need to think about insurance, local by-laws and health issues. Starting a home cake-baking business? Same thing, by-laws, insurance and legal responsibility to your customers. Each project will have its own essentials that you must learn about quite apart from the fundamental expertise you need – like a good way with dogs or cake recipes.
For the knowledge you must buy-in, you will need to contact an expert. You need their help as cheaply as possible but you also must have quality advice. That’s why you go to experts, it’s cheaper to pay a lawyer a fee to look over your terms of business than it is to go to law school. Also, you’ll get what you need a lot quicker. Time is money. While you’re learning, you’re not earning!
These days you’re not even going to get started unless you’ve got at least three things:
- A mobile phone
- Business labels or cards
- Somewhere clients can contact you when you’re asleep, at the dentist or your phone’s battery has run out.
The postman may knock twice but new clients rarely do. If they cannot get in touch quickly when they need you, there’s plenty of competition around who they will try next. And these lost customers rarely if ever, come back on your radar. They are normally gone forever. PdePages can help you with the last two essentials – we don’t do mobile phones – sorry.
Websites & Branding
A good website is not cheap. There are a lot of essential ‘extras’ – domain name, hosting, maintenance, security certificates, the list goes on. Sure, you can go to Wix but that’s a pretty obvious sign you’re a ‘newbie’ and if you’re new at that just how new are you at providing the product or service you offer. You need to be and appear competent and as professional as possible. Would you buy home catering from somebody with grubby fingernails? Of course not.
Your brand is also important. This is often overlooked by newcomers, frequently at their cost. Your business name, image and branding announce who you are. Your business appearance counts for a great deal. You only get one chance to make a first impression.
Would you go for an office job interview in tracksuit and sneakers? Same person with the same talents but one with formal clothes and a tie is liable to improve their chances immensely. The same with your business image. If people think it looks respectable then they’re going to pay attention to what you provide. Scruffy or tatty and they go elsewhere.
Remember, there’s always plenty of competition around just waiting to mop up potential customers you failed to impress.
Need for Speed, Simplicity & Saving you money
It’s worth looking over the Webbit notes on the example Webbit website: https://x1.pdepages.com/notes/ Take a browse round that website, It’s a fully functioning Webbit.
The concept was uniquely designed with you and the home or small business entrepreneur in mind. You get the complete package – no hidden extras. Everything is unbelievably simple to use. In reality, modern websites which are not in the eBay, Amazon and Facebook league need to do just 3 things:
- Be kept up to date with attractive products, services, and offers.
- Provide clients with your permanent contact information
- Act as a 24/7 gateway so people can contact you quickly.
Those are the bits that really matter – and Webbits do them in spades. Later, as your business expands, you can add on all sorts of bells and whistles but initially, your website must be smart, fast and lean – and cheap!