Start with almost no money
I acknowledge this blessing nearly every day. I have the huge benefit of working out of my home. My overhead is very low. I have friends with brick-and-mortar locations and they have to make thousands per month just to break even. If I had revenues of just $1000 per month 90% of the time I would still make a profit that month.
The inequity is in the start-up costs also. One friend bought an existing company and had to acquire a large loan to finance it. Another opened a franchise and although we have never talked actual dollars, I estimate she spent at least $100,000 before her doors even opened. I bought business cards and attended networking events. First month start-up cost = $200.
Now those lower costs did not prevent me from spending more than I made my first year in business, but once I decided my business had to pay its own way -- it did. (No amount of cloud-based software can overturn bad business decisions.)
Although those brick-and-mortar businesses do have aspects that can not live in the cloud, they have parts that do. Colorado Springs is having a snow day today (not even the buses are running). This is when online access to your website, social media, database and other systems is essential.
Of course you would rather have your store open, however you may have office work you keep putting off that you can do. If you do not have a physical product on your website to sell because you repair bicycles, create your own discount gift certificate and post it on social media several times.
“We’re snowed in so you can get a great deal! Buy a Spring tune-up gift certificate for $59 today only and save $40! www.LinkToPayPalOrCreditCardProcessor.com.”
If you do have products on your website offer a flash sale on one or two items and promote it on social media. If your whole town is snowed in you can bet lots of people are on social media posting pictures of the snow on their back deck. (go figure)
The best part is that many of these necessary programs can be started for free or at a low subscription level so you can determine how easy they are to use or if they are even necessary. I have quite a bit of unused software cluttering my computer (part of those early bad business decisions). A fair amount of cloud-based software is available with a free trial period.
I have more reasons to embrace the cloud coming in future posts.
Until next time…
Have a great day,
How do you spend your snow days? I offer brainstorming sessions to help you find ways to create multiple streams of income. Click here to find out more.