Starting your own business is very exciting – you get to be your own boss and you no longer have to rely so much on the decisions of others with regards to income-generation. Of course, the main lure is really just having complete control. However, launching your own business is no easy feat, especially if you’re going to look at the financial aspect of it. Even if you have a substantial amount of money as start-up capital, it’s crucial that you know the best strategies to effectively manage your finances as well.
Savvy entrepreneurs always recommend starting “humble”. Basically, what they mean is there’s no need to buy the newest and most expensive equipment, rather, what’s more important is becoming fully operational without spending excessively. You would need to be extraordinarily resourceful to keep expenses low. It’s imperative that you know how to explore all available options; see what you can get for absolutely nothing – like a relative’s old computer printer or even furniture that’s being given away by neighbours and learning to upcycle them for your business. Likewise, learn to negotiate powerfully, get those discounts for your purchases, or even opt to buy second-hand (or third-hand) equipment like used phone systems, which are hundreds of dollars way cheaper than new ones.
Speaking of second-hand phone systems, they are often great buys because most items sold by online retailers and independent sellers are in really good condition, despite many years of use. Also, they can serve your business for many years before they completely expire, or just until your business has already earned enough money to invest in a completely new phone system.
But in buying these second-hand phones, you need to be a savvy buyer. Don’t just buy anything because it’s cheap. You’re more likely to spend more eventually if the phone has to be fixed or for if you need to buy replacement parts. To get the best value for your money, check out highly recommended retailers that provide guarantees and warranties.
It’s also helpful to do a background check on the model you wish to purchase and be able to enquire about the condition of certain features of the phone system. Ask the seller’s reason for disposing of the phone system. Make sure to inspect the phone system as well to see if it’s “clean” because there are some items sold online that come with harmful secrets/history, and the last thing you want for your new business is to be embroiled or incriminated in questionable activities. And lastly, see if you can get all original accessories for the provided selling price.
When it comes to starting a business, exploring all options first to minimise expenses and really just playing it smart can help secure finances. Choosing used equipment like phone systems, computers, and others can definitely leave you with more money to work with for your new business.
Written by: Sarah Miller is a business consultant by profession and a content creator, writer and blogger by passion. Having been exposed to the different aspects and faces of businesses, she frequently does research on useful information regarding the different methods and techniques to further improve business marketing, sales, performance and shares her passion of business management through blog/content writing. One of her resources is http://www.infinititelecommunications.com.au