Lean Beginnings: Starting Your Business Small
In our quest to start our small business, we may think that we need to spend on everything to begin. But the reality is as small business owners just starting out, lean is the best way to go. Don’t over-complicate or do so much that you begin and are already behind financially. You do not have to sign up for everything nor have the latest and greatest systems in place.
As a small business owner just beginning, be sure that what you do spend funds on is an investment that will bring back a return. Choose wisely where you intend to spend those funds even before you actually start the business itself. There are some expenses that are unavoidable such as a website or business cards. But understand that those are things that can be improved upon over time and keeping expenses in your business lean is the best way to ensure you don’t end up out of business before you even start. The internet is boundless with free information, be sure to do your research before you decide to spend money for paid information.
Finally, be sure to invest in a financial system that works for your business and that will grow with your business. An excel spreadsheet may be free but will not support your business growth. However, a top of the line system is not necessary for your small business either. Invest wisely and keep it lean in your start-up years.