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In today’s world, established an online presence is key to success. Websites are a great resource for current and potential clients to keep updated with information on the company, such as an address, hours, or services. For someone without a technical background, it can seem like a daunting task to have to create a website from scratch. Although it is an option, it is not always necessary to spend hundreds of pounds on a professional website developer.

Using a template

One popular option is to utilize a website building site. These include GoDaddy, SiteBuilder, SquareSpace, and Weebly. Each option has a wide range of choices, and each is aimed for a different approach. It is best to look at each in order to decide which would be best for the company at hand. Using one of these websites is usually cost effective as cheapest packages can be around 4 pounds. Depending on the complexity of the website this price can vary. If you use one of these providers, you also will not have to worry about finding a separate hosting service, as this is often included.

Domain Name

You will also need to come up with a domain name, which is essentially just the name of your website. It is best for the domain name to come as close as possible to the company’s name, as that will make it easier for others to find and identify the website. It is also important that the domain name be short and sweet so that it is memorable and user friendly. You may need to get creative with domain names as it is possible that your company name is already taken. Purchasing a domain name is usually can range from 2 pounds to 100, depending on your choice of extension.

Websites are crucial to the success of small businesses and are very simple to begin!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com.

Saving money is especially important during the early phase of your business, however, the needs of expansion can often be expensive. Here are some ways to cut costs while still getting the job done.

#1 Legal fees

Legal fees can get out of hand when not managed properly. Some ways to keep these fees down are to be clear with your lawyer about the job so no time is wasted in mistakes and by taking advantage of the multiple billing options available. In most cases, you can choose between an hourly rate or a flat fee, so determine which is most cost effective for the project at hand.

#2 Renting vs. Buying

If your business uses equipment for its operations, consider renting over buying. If the item is needed only once or for a short time, renting can save you money by cutting out maintenance costs and making sure you do not pay more for something that won’t be used often.

#3 Marketing and PR

If your business is still growing, taking care of your own marketing can help save money from salaries and help you deliver a very clear and targeted message to the world. After all, you know your business best.

By keeping these few aspects of your business in mind, you can start to cut down on costs and improve the state of your balance sheet!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com

Small businesses often find themselves subject to a rough spot in regards to navigating finances. Here are some ways you can keep your business financially stable through the instability that comes with this new endeavor.

#1 Stay organized

Although it seems simple, there are often many loose ends that are associated with starting up a business that can be hard to keep track of. By establishing a place for different documents and records, you can always look back to a specific day or purchase on demand. Using online resources such as QuickBooks can help with this.

#2 Hire strategically

As the business grows, so will the number and diversity of tasks that need to be completed. Instead of hiring several full time workers to complete this, consider other cheaper options to save money early on. This can include hiring freelance workers or part time interns. Carefully consider the task you are hiring for and evaluate accordingly. If it is a one time project, consider cheaper employee options.

#3 Limit personal spending from business funds

With small business, the line between personal and business is often blurred. Overspending early on can lead to problems later, so it is best to keep the personal and business funds separate. Consider establishing a separate salary for yourself and sticking to it.

Keeping a tight leash on your spending and being detailed in financial tracking can be the difference between a successful and unsuccessful business. Be sure to use these tips to ensure the efficiency of your finances!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com.

Small businesses often need to rely on investors or other outside sources of money to continue to fund their vision and grow. Here are some things to keep in mind when applying for and presenting to potential investors:

#1 Show your passion for your project

Rather than focusing on profits or money, investors like to see that the leader of the business genuinely believes in the mission of the group. Investors trust that those who care about the success of the company not because of the money but because of the work itself will be able to pull through conflicts and rough times that may arise in the future.

#2 The people on your team are important

Investors understand that the company is only as strong as its weakest link. It is important to have a team behind you that consists of strong and capable individuals. Finding people with deep industry knowledge will be key in convincing investors that your company has the potential to be profitable.

#3 Keep involved with your finances

While it is recommended that small businesses hire professionals, such as an accountant, to manage their finances it is also important that the owner does not ignore these finances. By updating yourself monthly on your company’s financial standing, you will have a better understanding of what to speak about when meeting with a potential investor.

#4 Don’t be afraid of zero

Instead of seeing a zero on a financial statement as something to hide, see it as a potential place to grow. Often times, it is easier to gain from zero than it is from a small positive number.

#5 Choose investors wisely

When deciding which investors to work with or seek out, keep in the mind that the most important thing to your business is your mission. Find an investor who can align themselves with your purpose rather than your profits. This will create a better relationship between you and the investor and will help your business succeed.

As a small business it can be difficult to get people with the means to support your endeavors onto your side. By following these key items you can increase your chances of obtaining the funding you need to help your company grow!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com

Starting a business can be a tough task to embark. Owners have several things to worry about and keep track of through this transition, including the company’s finances. Here are a few tips to help keep away from future financial troubles.

#1 Draft and maintain a budget

It is important to see a budget as a roadmap to the future spending of the company. While it doesn’t need to followed down to the tee, it should be taken seriously in order to guarantee that the company has sufficient funds to last. For the budget to be efficient in planning, it should be realistic and account for extra expenses.

#2 Separate business and personal

When starting out it feels simplest to combine business expenses into personal ones, however, as the company grows this will cause organizational issues. By keeping two separate accounts, it will be easier to keep track of how much you are spending on the business and will help a future accountant do his or her job.

#3 Keep track of debt

Most businesses have to take on some amount of debt in order to finance their ventures. It is important to manage this debt, however, and pay it back as soon as possible. Owners should research the different types of credit that can be extended to them or hire a financial consultant to advise them on what is best for their course.

Keeping track of your finances is important to any small business looking to stay afloat for the long run. Be sure to use these tips to make sure you are making the most out of your earning!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com.