I feel like I’m always apologizing for my absence these days, but at least now I have a happy excuse. I’m starting a business. Lately, I’d been getting burned out on cutting expenses, mainly because we couldn’t cut anymore. There comes a point where the budget can’t trim anymore without starvation or mental saturation. Sometimes, you have to focus on increasing income.

It’s actually quite difficult to start a business on a budget. There are some expenses that there is just no getting around or reducing. While I would like to, I don’t think our state business office feels very negotiable when it comes to license fees. There are several places where I am able to cut costs though:
1. Business/Professional Liability Insurance – This isn’t necessary for everyone, but I have a lot of contact with the general public and it’s very important for me. I shopped around through several carriers and was able to determine that a lot of them had “services” (and I use the term loosely) that weren’t for me. I’m busy enough that I don’t consider a local chapter with mandatory meetings a bonus, but I do like professional discounts for cell phone plans and health/life insurance. In reality, saving $10 a month on my cell phone plan will almost cover my policy cost. I did find that it was very difficult to “compare apples to apples” when it came to coverage. Many prided themselves on some sort of special amenity so I had to do a value cost analysis, i.e. How much value am I getting for the money I’m putting out? Is what I’m getting worth it to me? Does it meet my requirements?
2. Location – When it comes to starting a small business there are a surprising amount of options for location. You can (sometimes) use your home. You can share a space with another business person. In my case I have to consider accessibility to clientele, myself, parking, and more. I think I’m going to be locating myself in an artist’s community space. It should work well for me and offer many networking opportunities.
3. Furnishings – Everything else can be bought the same way I buy anything else, on craigslist and ebay at a fraction of the cost.
4. Marketing – A lot of marketing doesn’t actually have to cost you anything other than a phone, paper, and printer ink. I have referral cards set up that incentivize my clients passing on my information. I participate in appropriate networking events. And NEVER be afraid to introduce yourself.
I have to say I’m both trepidatious and excited for what’s in the works. As soon as I secure my space I’m trading services for help with painting and flooring. Now if I can just find someone who will trade my expertise for cleaning my house, my life will be complete!

Andi B.

Andi B.