How to Start a Business on a Budget
As I previously told my Dutch readers, when I founded my translation agency in 2011, I had only graduated a few weeks earlier. I had no income yet. Starting a business always costs money, but if you hardly have a budget, you have to be creative. Therefore, in this blog post, I give you tips on how to start a business on a budget.
How to start a business on a budget: build a website for free
At the very beginning, I built my website myself. A website is simply necessary in this era. There are plenty of tools you can use to build a website without any difficulties. A search in a search engine is all it takes.
My website was the first thing I spent money on when I actually started earning an income. After all, it is the most prominent business card you have.
So, I do not advise you to keep this first version of your website for a long time. Still, if you are just starting and you are publishing crucial information, it will help you with your first assignments.
Working from home
Clearly, it is very pleasant and inspiring to work in shared workplaces. Renting workspace for one person is also becoming easier.
However, you will have to ask yourself whether that works money-wise. How many assignments do you have to do to earn back that money, and is it worth it?
Remember that working at a table in a coffee shop always costs you money, because you order drinks and something to eat. Business-wise, is it a good idea to do that every day? Or are the first two hours of your workday spent earning money for your expenses at the coffee shop?
If possible, I advise you to choose a separate room in your house or apartment and set it up as an office. You can also sit at the table in the living room, but you will soon find that you can never really distance yourself from your work.
You can find a lot of information online about networking opportunities in your area. Yes, you will find expensive business clubs. Nevertheless, free options are also available, and these expensive business clubs often offer free test visits. This way, you will establish contacts for your first assignments, and you can later decide whether you have a budget for those paid networking opportunities.
One of the first (Dutch) blogs I ever wrote was about reading entrepreneurial books when you are thinking about starting a business. Books never cost much money, especially if you buy them second-hand. However, you can get priceless information from them!
How to start a business on a budget: free bookkeeping
One of the things that many starting entrepreneurs dread is the bookkeeping. How does bookkeeping work? What do I have to do? What rules do I have to take into account? These are just a few questions that entrepreneurs ask themselves. Reading about bookkeeping probably reassures you.
Fortunately, you do not have to do it all by yourself. A tax consultant may be too pricey for you in the beginning. In that case, a bookkeeping program or website can be useful. You can find plenty of them that offer you a free trial of a few months. This way, you quickly learn how to do bookkeeping, and it probably only starts to cost you when you have already completed your first assignments.
Do you want to start a business on a budget?
In that case, my blog posts may help you. I blog about entrepreneurship, social media, marketing, and translations. For instance, these might be good reading tips for you: Starting a Business: A Small and Effective Guide, Debunking 3 Myths About Starting a Small Business, 10 Ridiculous Ways How NOT to Start a Business, and 2 Questions You Need to Ask Before Starting as a Freelancer.
I translate from Dutch into English and vice versa, so if you have international business plans, I can help you. Will you contact me about your translation project? You can send me an email: firstname.lastname@example.org.
Also, you can follow me on Twitter.