I’m loving the ‘on a budget’ theme of this month because it helps us spend our money in ways that maximize our happiness. We can only spend each dollar once. We might as well get as much bang for our buck as possible! This is what being fabulously frugal is all about. Who says frugal means no fun? When you are being fabulously frugal, your lifestyle looks just as fabulous or even more fabulous but for a lower cost! I can get used to that!
The fabulously frugal concept can be applied to absolutely anything.
I know so many talented and amazing people and they come up with brilliant ideas for businesses and products all the time. Starting a business can feel like a lofty. It can take a lot of time, risk and of course, money. Why not take the fabulously frugal concept and apply it to starting a business? How can you get the ball rolling and get the money rolling in without a significant investment?
Work Out of Your Home
When you were dreaming about being an entrepreneur, you might not have imagined yourself working from the your corner office in your studio apartment… but when you are getting started, saving on office space is a HUGE money saver. I personally LOVE working from my home office. Not only do I save on office space, but I get to skip the commute, eat all my meals at home and can wear whatever I want. It’s a huge money and time saver. If you are working with a team, you can work remotely more the majority of your time and plan regular meetings for everyone to get together.
Make Your Own Website
Most businesses need a good website and for many it’s an absolutely necessity. If you’ve done any research you might have noticed that websites are EXPENSIVE. This is a major start-up cost for many businesses. Lucky for you, there are now many sites that help you create your own website without using ANY coding. That’s right, they are drag and drop. You can create a professional website in minutes for very little cost. I’m probably the opposite of a tech guru and I was able to figure these sites with no problem! Wix.com has a great easy to use platform that allows you to create your own website using beautiful templates.
If you need someone’s help for your new business, there may be the opportunity to trade services. Maybe you’d love to hire your friend who is a graphic designer and she really needs your social media expertise. You help her build her social media presence and she makes you some awesome graphics. It’s a win-win and you don’t have to spend your precious cash early on.
Hire the Up and Coming
If you can’t find a way to trade for services, seek out the up-and-coming experts in their field. When you invest in someone who’s working to build their business and customer base, you will probably get a better price and incredible service because it’s really important to them that they do an amazing job for you so that you recommend them to your friends in the future!
Get in the Habit of Cost-Benefit Analysis
You can only spend each dollar once. Every time you make an investment for your business, no matter how small, run through a quick cost benefit analysis. What are you getting from this new purchase? Will it directly increase revenue? Will it save you time that you can now focus on the operations of your business? Is there a way you can get it for less? These are all great questions to ask yourself before you make the decision to buy something.
Decorating will be my first project after the wedding. Would love any and all fun ideas for this space!