How to Start an Office Based Business on a Budget
One of the things that prevents potential entrepreneurs from starting their own business is a lack of funding. To get a business going you need money for various important business activities. Although no one can completely put aside all the costs needed to start a business, depending on what type of business you want to start, there are several ways to cut costs dramatically. If you are interested in starting a small office based business here are some great tips to get you going on a budget.
Work out of Your Home
The reality is that most new businesses do not last for a year so you need to tra your first year of operations as frugally as possible and in a way that does not get you tied up in long term contracts. At the same time, you need to be as productive as possible so you can take you best shot at business success. The best approach in this regard in terms of setting up an office for yourself is to rent an executive office. An executive office is a small office in a suite of offices. There are many other companies there as well but having your office will provide you with some privacy. You can also benefit from there being other companies close that may become clients or vendors.
You only rent a small room or rooms or even a virtual office on a monthly basis and then rent the other services you need including conference rooms and office equipment as you need it. There is a receptionist who will answer your phones for you and these office ss are usually right in the middle of town so it will be very convenient and you can determine how much to spend on office related items as you go. You will have to bring your own computers but everything else is typically supplied for you. Because you are on a short term contract, if your business idea does not work out, or if your business takes off and you want to get bigger permanent offices, you can leave without breaking a lease agreement
Buy Refurbished Laptops
For any computers you need for your business, you should buy refurbished laptops. This choice is smarter than purchasing desktops because you can give one to an employee and the can work from home or take it with them to meetings. A good refurbished laptop can rival most desktops and the cost is a fraction of what it would cost new. You can get a nearly new computer from a top manufacturer and if you purchase from a reputable supplier this range of refurbished laptops will come with good warranties.
Hire Temp Workers
There are companies today who can provide you with fully trained workers for your company on a contract. They handle insurance and all of the other issues relating to hiring employees so you only focus on managing the workers when they are in your employ. This saves you lots of time hiring and training and if an employee does not work out, you can simply bring in a new one immediately and fully trained. The costs are higher than if you hired an employee direct, but the convenience and other costs make this a great option for new businesses.
Remember to make a business plan for your new business and put in all of the costs you will have for the first year. You need this money in place before you open your business.