When you are starting up a new business it can feel like everyone wants a piece of your cash. Offices, brands, uniforms, staff… the list is endless. It starts to seem like you need a huge investment just to get your business off the ground.
But it isn’t the case. It is perfectly possible to start up a business without needing lots of cash.
However, there are some basic things that every start-up should invest in that will make the next couple of years much easier. Not only that, but these basic things will help you to generate sales and give you a polished, professional look.
Let’s have a look on top startup investments.
A Decent Computer
A good computer will set you back a fair amount of money, but they are well worth spending the money on. When it comes to tech, you really do get what you pay for.
It is likely your whole business will be on your computer so get one with enough RAM and processing power to be able to handle several tasks at once.
Think about what you will use your computer for and prioritise those features. If your business is a creative one you will want a fantastic screen resolution. If you plan to take your laptop out to plenty of meetings you will want one with great battery life. For those planning on storing lots of very sensitive data, a fingerprint reader is a must.
A touchscreen is an added bonus as it allows you to add your signature to documents without having to print, sign, and scan them back in.
Investing in a good computer will save you time and money in the long run.
Good Telephone Systems
Connecting with your potential and existing clients is one of the most effective ways you will grow your business.
It is tempting to just use your mobile phone, but it can look unprofessional to only have a mobile number on your business cards. Plus, it makes it more complicated when you scale up and want to add staff or specific sales or accounts lines.
Investing in a VoIP phone system when you start up can save you money and allow you to scale up in the future.
With a VoIP system, your calls are routed over the internet instead of traditional phone lines
And with VoIP you can add as many phone lines as you want or need, usually at no extra cost. You can also send calls to the landline number to as many phones as you like in a hunt group-perfect for when you hire staff.
What's more, VoIP is cheap. It is significantly cheaper than a traditional phone line, even when making international calls.
Plus, in-call data means you can be fully informed of how many calls you are making and receiving, meaning your sales activities will be targeted and effective.
A Great Website
You can do a DIY website for not very much money, or you can have a bespoke website built in a proprietary system for a lot of money. And you can have everything in between.
For a website to generate you leads it needs to look great and rank in search engines. So, unless you know you can build a good looking website and optimise it for search engines, this is certainly one area to outsource and invest in.
A well-designed website will engage potential customers and give them all the information they need to convert them to an enquiry.
Search engine optimisation is also worth the investment. It will mean your website can be found in search engines like Google. Without it, your website will take a long time to start to show up when people search for your services.
You don’t have to spend a fortune on your website, but it is a good idea to invest something in it. No one wants to have to rebuild their website once they start scaling up!
An Accountant
Unless you have plenty of time and expertise in accountancy, a good accountant is worth their weight in gold. And they usually aren’t that expensive.
Having an accountant will not only keep you compliant with tax and revenue laws but it will also save you time.
What's more, you need to know how profitable your business is, when you can invest, and when you need to seek funding. An accountant will help you with all that.
You can keep an accountant on retainer to do things like payroll and monthly expenses, or you can just engage one to do your tax returns. Either way, find one you like and trust.
A Beautiful Brand
Your brand is such an important part of the sales process. It is your presence in your industry and beyond.
And it is so much more than a logo.
A good brand incorporates your strapline, your brand values, the tone of voice you will use when you write, and the colours associated with your brand.
Is your company mature navy? Or fun and fresh hot pink? Your brand colours speak volumes.
At the start-up phase it is tempting to just do a logo and sort the rest out later. It is certainly cheaper that way.
However, a brand is something most companies need at some point and having to go back and redo your website, sales collateral and documents can be very expensive and time- consuming.
It is certainly worth investing in a brand that truly represents your start-up company. It will set your ambitions, direction, and tone. It will make sure that your business is received into the market place in a way you can fully control. Your potential customers will get the right impression of your business straight away. And, perhaps most importantly, you will look like the polished, professional, and serious addition to the sector that you are.
Worth The Investment?
It isn’t always possible to spend much cash at all when you are starting up your business. Sometimes you have to build these things up in installments. None one of these items need cost you a fortune but they are certainly worth investing time considering.
If you have it, investing some money in these areas is worth it, too. However, setting up a business with nothing more than a good attitude and a heap of passion is also possible.
