We understand, it’s really exciting starting your own business, we were there not so long ago.
It’s a new beginning, everything is nice and shiny and you want the best for your new business baby. But do you really need it? Everybody and his wife will try and sell you something and tell you it`s essential for your success, but is it?
Lots of branded promotional items – do your really need 500 hessian bags. 6000 business cards and a couple of hoodies? what do they say about your business? if you are a dog walker, a nice warm fluffy fleece is perfect, you can advertise your business to dog walkers whilst walking your mindees – brilliant. If your trying to sell high end jewellery, probably not so great.
A fancy car on lease – starting out is expensive, do you want to add to your start-up costs? if you have a car already, use it, most people won’t notice and won’t care what you are driving, providing you can do the job. Once you are up and running you will be able to make an informed decision based on your business needs and cashflow.
A top of the range all bells and whistles website – start out with a more modest website and focus on your marketing and SEO initially, there is no point having a fancy website if no one’s looking at it. If your website is simply an online brochure for your business, you may even build your own website initially (if you are that way inclined!)
Stationery – it’s a personal weakness of mine, but you can only use one pen at a time…and there`s only so much wall space for sticky notes, plus you need space to keep it all (more on that later) a bookcase of colour coordinated files maybe visually stunning, but what is going to live in those folders? does your business really produce that much paper? and are you ever going to look in those folders, or will it be out of sight out of mind?
An office – you will probably need somewhere to work, but be wary of signing a long lease on a work space, consider the alternatives first, do you have a spare room or corner, is there a co-working space near you? when starting out you may not even know what your working day is going to look like, don’t get tied into an office you only use 3 hours a week.