Too many times I’ve seen new business owners, starting small. I’ve seen them time and time again saying, “I’m a small business, so I’ll only invest in my business when it grows”, this is a mistake.
Here’s some things that new small, business owners often don’t invest in:
- Accounting – they say I’ll get accounting only when I make more money
- CRM – I’ll get a customer database system when I get more customers
- Website – I’ll get a better website when I get a bit more money
- Email marketing – I’ll get an email newsletter up and running when I get more leads
However, this is a mistake.
Right when you’re starting your business there’s several low cost ways to invest in your business and start off on the right food.
Right when you’re starting your business there’s several low-cost ways to invest in your business and start off on the right food.Ramon Ray
This should be setup and done right from the start. Not only so you can properly pay the IRS, but so you can make the right decisions on your money coming in and going out. Understand your cash flow. Understand what products (and services) are driving the most sales. Know what products (and services) are generating the most profit.
You might think CRM is only for large companies, but no. Smaller companies need CRM as well. We need to know how customers are engaging with our business. We need to know what they’ve bought. We need to know what webinars, lead magnets and other things they’ve “clicked” on to engage with us.
Your website should be very good right from the start. You can use Zoho, Wix, Squarespace or other online tools to build a good website. Yes it’s a template website, and these sites can be great for you.
I’m surprised how many business owners don’t setup or send a regular email. This email can start simply, once every two weeks. Or you can take the time and build a marketing automation sequence to send an email, using a campaign. Keap, Zoho and other platforms can help do this.
This is just the beginning. Don’t start your business and feel you need to start it “small”. No, invest in the best you can for your business right from the start.
Staring right is just as important as succeeding in your business. Therefore, it is best to consider your accounts, CRM, website, and marketing to create short and long-term plans for your business.
Ramon is an in-demand small business expert, who has started 5 companies and sold 3 companies. He’s the publisher of ZoneofGenius.com and BWCDaly.com. Ramon is a motivational keynote speaker and event host. Check out his latest book, “Celebrity CEO”, all about personal branding for entrepreneurs and small business owners. Get help from Ramon for your business at CelebrityCEO.com/coaching . Learn more about Ramon at RamonRay.com