Saving Money on Your Startup: 4 Things You Can Do Yourself

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When we look at successful businesses, they seem to have tons of people working for them, taking on all the difficult tasks and leaving the business owners and managers free to get on with the more interesting and creative jobs. While it’s true that as your business grows, you’ll need to consider outsourcing some of the work to save yourself time and help your business to grow, you don’t need it just yet. When you are just starting out, it’s sometimes more important to take on a lot of roles yourself, to save money which you can then invest elsewhere in the business. Here are four things you could be doing for yourself.

Accounting

Many entrepreneurs are terrified of doing their own accounts. It seems like such a huge scary task where a lot could go wrong. However, while your business is small, as long as you are organized it’s easy to do your own accounting. You could even do an online masters of accounting from Maryland University which, despite the cost of tuition, would save you a fortune long term by allowing you to do your own accounts, even when your company has grown and developed.

When it comes to accounting, as any masters of accounting student will know, the key is organization. You need to implement a system as soon as you start making money. Then, be sure to record absolutely everything and save all of your receipts. Download a spreadsheet template to help you get started.

Marketing

The growth of digital marketing means it’s easily possible to devise and implement a marketing strategy to launch your business and help it to grow. Concentrate on social media marketing, content marketing, and email campaigns.

Start gaining followers across all platforms and collecting email addresses. Then, show people what your company is about. Use your profiles to drive traffic to your blog or website and start converting them to customers.

Recruitment

While you certainly can outsource recruitment, or employ an in-house recruiter, in the beginning, it’s better to do it yourself. You won’t be hiring many to start with and it’s essential that you get the right fit.

Read through CVs and interview prospective staff yourself, to make sure everyone you employ is going to bring something to the team.

Cleaning

Cleaning and looking after your office or work space is probably one of the jobs you are keen to outsource. It’s not a glamorous job and certainly not one you thought you’d be doing when you started your own business. But, someone has to do it and paying for a cleaner at this stage is an unnecessary expense. Save yourself money and get stuck in.

As you grow more successful, you will need to outsource or employ in-house teams and skilled staff to give yourself time to do other things. But, when you are just starting out, doing things for yourself won’t just save you money; it will also help you to gain a greater understanding of how your business works and what it takes to make it run well.

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