Before I get into this blog post about saving money when starting a business, I wanted to announce that I now have a Patreon! If you like my blog posts and want to support me, it would mean so much 🙂
You can check out my Patreon HERE
How do you save money when starting a business? Isn’t it expensive? What if I don’t have much money to spare and put towards my business?
If any of these questions crossed your mind, don’t worry! You don’t need buckets of money to start any business. Sure, having some is needed and how much really depends on what type of business you are starting. However, I have created this guide to help you save money where you can.
This guide is for anyone who is thinking about starting a business, is in the midst of planning their business, and those who already have a business.
Here are 3 tips on how to save money when starting a business.
1. Write Out an Expenses List
You must write out a list of all possible expenses when starting a business. If you don’t know what you have to spend money on, how can you save any? Include everything from domain hosting costs to shipping. These are things that you will most likely not be able to get out of paying, or find a free alternative. But knowing how much money you will need will give you a good idea of how much to save before launching your business or continuing on with it.
Have a number in your head of how much your first month and first year might cost you. This way, you will know how much you need to make back for this to all be worth it.
2. Connect with other Business People
Connecting with other likeminded business people will not only help you create relationships that can benefit your business and theirs, but it can save you money. These are people who are going through what you are, or have. Maybe they have already launched a business or two and have valuable tips and pieces of advice that could save you time and money. It is really worth scrolling through Instagram, finding people who are in a similar field as you, and then reaching out to them with a friendly message. Compliment them on their progress and explain your story.
If you are having trouble making meaningful connections, YouTube is a great resource…and it’s free! So many YouTubers who have started business are on there, posting videos of the Do’s and Don’t’s when starting a business and how to avoid this and that. Here are my recommendations:
3. Do It Yourself!
Do as much of the start-up, planning, and creation yourself (if you can). If you have to create a website, take the time to watch YouTube videos or reach out to friends who can help. Don’t spend money on ads until you are financially able to, instead, focus on being active on social media because it will be way more effective!
Don’t buy anything you don’t NEED right at the moment either. If you don’t need a business plan on your website right away, or don’t need a premium MailChimp plan till later on, hold off until as long as possible. By the time you really need them, hopefully, you have saved up more money and it is easier to fork out!
Basically, be cheap!
12 FREE resources that will save you SO much money.
Canva – This is a great beginner design tool that offers you so much for free. I highly recommend Canva because you can create images specifically for blog headers, Pinterest pins, Instagram stories, and more
PicMonkey – I used to use PicMonkey and I still think it is a great resource! I know it is good for making YouTube thumbnails, so a good tool for any YouTubers out there too
Coursera – I paid a lot of money for a membership but that is because there were a lot of specializations I wanted to experience that I can’t at my university. However, there are so many amazing free classes and you can audit any class for FREE
Pivot, Passion, Profit Workshop – I am an intern for Gypsy Journals who created this lovely workbook and playback for any creative entrepreneurs looking to thrive in their passions. I highly encourage you to take a look and explore her other courses with Ouiwegirl.com too!
Social Media Organization
HootSuite – This is a social media post scheduler and with their free plan, you can connect 3 social media accounts and post 30 posts a month. That is good enough for me, and it is super easy to set up and use
Later – Another social media planner that I used to use, but switched to Hootsuite just because it was more of what I needed. However, the layout of Later is great and is super helpful overall
MailChimp – MailChimp is SO easy to use and the free plan is so far, all I need. When starting out, building a email following is essential for any business and including a newsletter will help to grow that. Which is why I use this handy tool
SEO & Writing
Google Keyword Planning – helps you find keywords that are popular and will lead people to your website/posts
Nibbler – gives you a popularity and effectiveness report on whatever website you enter
Grammarly – if you are writing lots, you have to have Grammarly. Especially if you are doing all the writing yourself! Grammarly ensures your writing is grammatically correct and consistent
Invoicely – A free invoicing tool for small businesses and not to mention, it is simple to use! With invoicing, I look for simplicity which is why I like Invoicely
PayPal – I love PayPal and sometimes use it depending on the client, however, its free plan isn’t the best for businesses. It is still good to have free account with them though
When starting a business, it is important to be thorough, conscious, and critical. Not all businesses make their money back right away and you need to keep that in mind. That is why when starting a business, it is good to keep your expenses to a minimum until you are seeing progress.
When you finally start making money back, that is when you can spend it on premium plans and tools that will make your life easier. However, until then, the free options are here for you and honestly, they are pretty great!
I hope you found this post helpful and that it will save you money in the future. If you have any other free tools and resources, drop them in the comments below please!
And don’t forget to check out my last blog post as well as my social media accounts which are all linked down below. Thanks for reading 🙂
Last Blog Post: July Writing Goals
3 thoughts on “How to Save Money When Starting a Business”
Your blog posts are always so helpful! Your tips are great and I can’t wait to watch the Youtubers you’ve recommended. Also, I whole-heartedly agree with you: Hootsuite, Canva and Grammarly are fantastic tools! I’m going to check the other free tools you’ve mentioned! Have a nice day
Thank you!! 🙂 I really appreciate it.
I hope the resources are useful for you like they were for me!
Have a nice day as well.
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