You Start A Business On A Shoestring Budget?Part Two
As you previously discovered in part one of this series, about “how” you successfully start a business, and consistently grow it on a shoestring budget, even during the middle of a nagging local recession! Hopefully, you can now see and more importantly, and appreciate the practically endless creative possibilities, that are at your disposal! Don’t you agree?
After all, just because you don’t personally have the investment capital yet, is really no excuse, correct! Besides, somebody somewhere, either has the money or other other extremely valuable current under utilized resources, that you can creatively tap into!
How To Successfully Start A Business On A Shoestring Budget!
(Entrepreneur If others Can You Can Too!)
So let’s pick up our story where part one left off. As you recall, we were exploring ‘how” a fictitious (extremely) cash strapped small business owner was testing to see which battlefield proven marketing strategy, would allow them to inexpensively, yet strategically enter a market and quickly start generating first time and hopefully (long term) repeat customers !
And since they were said to be able to rival Mrs.Fields cookies and other baked goods. It was decided they should first go after any situation that involved a gathering crowd!
For ex; let’s suppose she (if it happens to be a woman) approaches her spouse or significant other, about supplying his once a month investment club members with an initial free batch of cookies, pies or cupcakes etc! (Think of the potential long term online profits, from orders around the holiday season alone!)
He or she takes them to the meeting and offers a raffle (or free drawing) where two grand prize winners, get one free cake for their birthday (and wedding anniversary) if that applies, plus some free cookies at Valentines day, their spouses birthday and or Mothers day etc!
Everybody else gets an X% “new customer only discount coupon” where they get their next three purchases for 10-20% off or X! (With no minimum purchase required.)
The next thing they can and should do is, approach any friends or family members, that currently work for the state and give them a free batch of cookies or cupcakes to set out a tray!
And give your relative some of your business cards that direct them to your state of the art WordPress blog’s lead capture page, where they can enter your free drawing!
Each month you choose one grand prize winner and everybody else (you guessed it!) they get an X% off first time only, new customer discount coupon! Time sensitive of course!
Leverage Your Local Small Business Owners Sales Funnel!
Approach every local small business owner that you (or a relative or associate) may know personally, that you or they’ve done business with for years, about arranging to offer a tray of your goodies to their customers, say once a month or on certain slow days during the week etc!
Where the first twenty five people that comes to Joe’s hardware on Thursday’s, get a free cupcake or two homemade chocolate chip cookies etc! Get creative! Of course, you give Joe (or the business owner) free goodies in exchange for inexpensively exposing you to a ton of potential new first time and hopefully repeat customers!
And lastly, (not really!), you might approach your local day care center owners, where your kids or a relatives kids are currently enrolled and are in good standing! And arrange to supply the staff with (either) free or just charge them your actual hard cost, in exchange for them making your goodies available to their extremely valued customers!
Those are just a few creative ways and thoughts entrepreneur, on ‘how” you might successfully start a business and strategically grow it pretty fast, during the middle of a nagging local recession! Even if you’re operating on a shoestring budget!
Of course, no one size (marketing approach) fits all! But that’s “why” you are always highly encouraged and badgered to test, test, test! Any questions?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Starting a business on a low budget is something that i think is a great idea because so many companies fail early in, so this way you can really cut your losses if things don’t work. There are certain business related items that I feel every business needs though. For example, appearing at trade shows means that you are going to need things like business cards for example.
Donald:
Thanks for kind words, and hopefully you can implement some of
the ideas.